IP-WARS.NET || TSG to receive $100 million cash; go private

TSG to receive $100 million cash; go private

By sphealey, Section Diary
Posted on Thu Feb 14th, 2008 at 12:46:52 EST

TSG have announced an agreement with a private equity group for a $100 million cash infusion to exit bankruptcy. The equity group will take TSG private:

= LINDON, Utah, Feb. 14 PRNewswire-FirstCall -- The SCO Group, Inc., traded over the counter in the (Pink Sheets: SCOXQ - News), a leading provider of UNIX® software technology and mobile services, today announced that Stephen Norris Capital Partners ("SNCP") and its partners from the Middle East have agreed to provide up to $100 million to finance a plan of reorganization for The SCO Group Inc. ("SCO"). As part of the financing, SNCP will take a controlling interest in the company, while taking it private. As a result, SCO is poised to emerge from Chapter 11 of the United States Bankruptcy Code in the coming year. The Board of Directors of SCO has unanimously determined that this financing and plan of reorganization is in the best long-term interest of SCO and its subsidiaries, as well as its customers, shareholders, creditors and employees. =

This is not a drill.

sPh

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