Drake, which specializes in mechanical,beats by dre Yankees, engineering and plumbing operations,Beats by dre white, said the “strategic” investment would represent about 8.5 percent of the company’s current market capitalization.
The warrants mature in five years and can be exercised by Goldman any time after two years,beats by dr dre studio, Drake said in a statement on Monday, without revealing any pricing details.
Goldman’s exposure will be settled in cash once the warrants are exercised,beats by dre detox, subject to pre-agreed maximum cash settlement amount.
The contractor, which reported a 93 percent drop in third-quarter profit on Sunday,new beats by dre 2013, had signed a $120 million equivalent loan facility to support its growth into other markets last week.
Goldman acted as a coordinator for the loan facility,beats by dre detox. Drake’s shares fell 0,beats mixr.5 percent on the Dubai bourse in early trade following the announcement. ($1 = 3.6730 UAE dirhams)
(Reporting by Praveen Menon,beats by dre Yankees; Editing by Dinesh Nair)