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Ambassadors International, Inc. Announces Extension of Exchange Offer for 3.75% Convertible Senior Notes Due 2027 and Designation of Nominees to Serve as Directors of the Corporation.

Publication: PR Newswire
Publication Date: 23-OCT-09 		Format: Online
Delivery: Immediate Online Access

Article Excerpt
SEATTLE, Oct. 23 /PRNewswire-FirstCall/ -- Ambassadors International, Inc. (the "Company") announced today that it is extending its previously announced exchange offer (the "Exchange Offer") for any and all of the Company's $97 million of outstanding 3.75% Convertible Senior Notes due 2027, CUSIP Nos. 023178AA4 and 023178AB2 (the "Convert Notes"). The terms of the Exchange Offer are amended accordingly.

The new expiration date for the Exchange Offer is 5:00 p.m., New York City time, on Thursday, November 5, 2009, unless further extended or earlier terminated by the Company at its discretion. Tenders of Convert Notes must be made before the Exchange Offer expires and may be withdrawn at any time before the Exchange Offer expires. To receive the consideration in the Exchange Offer, holders must validly tender and not withdraw their Convert Notes prior to the expiration date.

Concurrently with the Exchange Offer, the Company is also soliciting consents (the "Consent Solicitation") to remove certain covenants and make certain other amendments to the indenture for the Convert Notes. The Company is...

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