Quiksilver Inc. said it reached an agreement with the private equity firm Rhone to exchange $75 million of the outstanding principal amount of its senior secured term loans for about 16.7 million shares of its common stock at an exchange price of $4.50 a share.
Under the terms of the parties’ agreement, Quiksilver has an option, for a 60-day period following the execution of a definitive agreement, to require Rhone to exchange up to another $65 million of the remaining outstanding principal amount of the loans for additional shares at the same price per share.
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