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CIFC CORP. FILES (8-K) Disclosing Unregistered Sale of Equity Securities

June 20, 2014



Item 3.02. Unregistered Sales of Equity Securities.

On June 18, 2014, CIFC Corp. (the "Company") notified DFR Holdings LLC ("DFR Holdings") that the Company has elected to redeem $25 million in aggregate principal amount of the convertible subordinated notes due December 9, 2017 (the "Convertible Notes"), which the Company issued on June 9, 2010 pursuant to the Senior Subordinated Convertible Note Agreement, dated as of March 22, 2010, among the Company and the Holders (as defined therein) (the "Convertible Note Agreement"), with such redemption effective as of July 13, 2014. The redemption price is the par amount of the Convertible Notes plus accrued interest through the redemption date, or $25,099,306. On June 18, 2014, DFR Holdings gave notice to the Company that DFR Holdings has exercised, as of July 12, 2014, its right to convert the Convertible Notes into approximately 4,132,231 shares (the "Conversion Shares") of the Company's common stock, par value $0.001 per share, in accordance with the terms of the Convertible Note Agreement.

The issuance of the Conversion Shares will not be registered under the Securities Act of 1933, as amended (the "Securities Act"), in reliance upon the exemption from registration provided by Section 4(2) of the Securities Act.

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Source: Edgar Glimpses


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