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Legacy IMBDS, Inc. 8.50% Senior Notes due 9/30/2026
Ticker Symbol: IMBIL* CUSIP: 452465305 Exchange: NGM
* NOTE: This security is no longer trading as of 4/01/2024
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QUANTUMONLINE.COM SECURITY DESCRIPTION: Legacy IMBDS, Inc. formerly iMedia Brands, Inc. 8.50% Senior Notes due 2026,issued in $25 denominations, redeemable at the issuer's option on or after 09/30/2023 at $25.75 per note; on or after 09/30/2024 at $25.50 per note; on or after 09/30/2025 but prior to maturity at $25.25 per note plus accrued and unpaid interest and maturing 09/30/2026. Interest distributions of 8.50% per annum ($2.125 per annum or $0.53125 per quarter) will be paid quarterly on 3/31, 6/30, 9/30 & 12/31 to holders of record on the record date that will be (NOTE: the ex-dividend date is one business day prior to the record date). Distributions paid by these debt securities are interest and as such are NOT eligible for the preferential 15% to 20% tax rate on dividends and are also NOT eligible for the dividend received deduction for corporate holders. The Issuer is required to redeem the notes within 45 days in the event that iMedia Brands Inc or any subsidiary fails to acquire all outstanding shares of capital stock of 123tv Invest GmbH and 123tv Holding GmbH within 180 days of the issue of this security. Units are expected to trade flat, which means accrued interest will be reflected in the trading price and the purchasers will not pay and the sellers will not receive any accrued and unpaid interest. This security was not rated by Moody’s or S&P at the time of its IPO. This security was rated as BB by Egan Jones Ratings Co. at the date of its IPO. The Notes are unsecured and unsubordinated obligations of the company and will rank equally with all existing and future unsecured and unsubordinated indebtedness of the company. See the IPO prospectus for further information on the debt securities by clicking on the ‘Link to IPO Prospectus’ provided below.
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Go to Parent Company's Record (IMBIQ*)
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Notes: June 28, 2023 -- the Company and its U.S. subsidiaries filed a voluntary petition (Case No. 23-10852) (the “Chapter 11 Cases”) for relief under Chapter 11 of title 11 of the United States Code (the “Bankruptcy Code”) in the United States Bankruptcy Court for the District of Delaware (the “Bankruptcy Court”). Nov. 25, 2019 -- iMedia Brands, Inc. (NASDAQ: IMBI) is announcing that effective at 5:00 p.m. Central time on December 11, 2019 it will implement a ten-for-one reverse stock split of its outstanding common stock. ________________ July 16, 2019 -- iMedia Brands, Inc. (NASDAQ: IMBI) announced today the Company’s name change from Evine Live Inc. (NASDAQ: EVLV) to iMedia Brands, Inc. is complete. In addition, the Company announced that on July 17th its common stock will be transferred from the Nasdaq Global Select Market to the Nasdaq Capital Market and its shares will begin to trade under the symbol “IMBI” at the opening of business on July 17, 2019. The Company is now being afforded an additional 180-day grace period, or until January 12, 2020, to regain compliance with the Nasdaq's minimum bid price requirement. In order to regain compliance, the minimum bid price per share of its common stock must be at least $1.00 for at least ten consecutive business days during the additional 180-day grace period. If the Company fails to regain compliance during this grace period, the common stock will be subject to delisting by Nasdaq. The Company has provided written notice of its intention to cure the minimum bid price deficiency during the second grace period by effecting a reverse stock split, if necessary.
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IPO - 9/28/2021 - 3.00 Million Notes @ $25.00/note.
Link to IPO Prospectus
Previous Name: iMedia Brands, Inc. Changed: 8/30/2023
Market Value $ Million
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Company's Online Information Links
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| Company's Online SEC EDGAR Filings |
| Company's Email Address Links |
| Address and Phone Numbers |
| Address: 6740 Shady Oak Road, Eden Prairie, MN 55344 |
| Main Phone Number |
952-943-6000 |
| Fax Number |
952-943-6011 |
| Investor Relations
Ken Cooper
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952-943-6119
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| Toll Free Phone Number |
800-938-9707 |
| CEO - Tim Peterman |
CFO - Tom Zielecki |
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