For us$ 3.9 million
PokerTek completes sale of Auction Rate Securities
(US).- PokerTek informed that it has completed the sale of its Auction Rate Securities for us$ 3.9 million, 100% of PokerTek’;s cost basis in these investments, plus accrued interest.
2009-01-11
Reading time 22 seg
In connection with the sale, PokerTek also liquidated its outstanding loan balance with UBS Financial Services in the amount of us$ 2.9 million plus accrued interest.
Mark Roberson, PokerTek’s CFO, commented: "We are pleased to settle our Auction Rate position at 100% of par value, removing any uncertainty as to the ultimate disposition of the investments and providing additional liquidity to our balance sheet.”
“At closing on January 5th, we liquidated our position in the Auction Rate Securities and the related loans, resulting in net cash proceeds to PokerTek of us$ 1 million,” Roberson added.
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