ELYRIA, Ohio–(BUSINESS WIRE)–Invacare Corporation (NYSE:IVC) today announced that it is granting the holders of its outstanding, unregistered 9 ¾% Senior Notes due 2015 (CUSIP: 461203AA9 and U46083AA6) (the “Initial Notes”) additional time to exchange the Initial Notes for its 9 ¾% Senior Notes due 2015 (CUSIP: 461203AB7), which are registered under the Securities Act of 1933, as amended (the “Exchange Notes”). All other terms and conditions of the exchange offer remain unchanged and in full force and effect. The terms of the Exchange Notes are substantially identical to the terms of the Initial Notes for which they may be exchanged pursuant to the exchange offer, except that the Exchange Notes are registered under the Securities Act.
The exchange offer, which commenced on May 29, 2007 and was previously set to expire on Thursday, June 28, 2007, will now expire at 5:00 p.m., New York City time, on Thursday, July 12, 2007, unless extended.
As of June 28, 2007, holders of approximately $174,000,000 of the total $175,000,000 in aggregate principal amount of Initial Notes had tendered Initial Notes pursuant to the exchange offer.
This press release shall not constitute an offer to sell or the solicitation of offers to buy any security and shall not constitute an offer, solicitation or sale of any security in any jurisdiction in which such offer, solicitation, or sale would be unlawful. The exchange offer is being made only through an Offer to Exchange dated May 29, 2007 that has been filed with the Securities and Exchange Commission and sent to eligible holders.
Requests for assistance regarding the exchange offer or for copies of the exchange offer materials should be addressed to the exchange agent for the exchange offer at: Wells Fargo Bank, N.A., Corporate Trust Services, MAC N9311-110, 625 Marquette Avenue, Minneapolis, MN 55479, Attn: Reorg, facsimile no. (612) 667-6282.
Invacare Corporation (NYSE: IVC), headquartered in Elyria, Ohio, is the global leader in the manufacture and distribution of innovative home and long-term care medical products that promote recovery and active lifestyles. The Company has 5,700 associates and markets its products in 80 countries around the world. For more information about the Company and its products, visit Invacare’s website at www.invacare.com.
This press release contains forward-looking statements within the meaning of the “Safe Harbor” provisions of the Private Securities Litigation Reform Act of 1995. Terms such as “will,” “should,” “plan,” “intend,” “expect,” “continue,” “forecast”, “believe,” “anticipate” and “seek,” as well as similar comments, are forward-looking in nature. Actual results and events may differ significantly from those expressed or anticipated as a result of risks and uncertainties which include, but are not limited to, the following: possible adverse effects of being substantially leveraged, which could impact our ability to raise capital, limit our ability to react to changes in the economy or our industry or expose us to interest rate or event of default risks; changes in government and other third-party payor reimbursement levels and practices; consolidation of health care customers and our competitors; ineffective cost reduction and restructuring efforts; inability to design, manufacture, distribute and achieve market acceptance of new products with higher functionality and lower costs; extensive government regulation of our products; lower cost imports; increased freight costs; failure to comply with regulatory requirements or receive regulatory clearance or approval for our products or operations in the United States or abroad; potential product recalls; uncollectible accounts receivable; difficulties in implementing a new Enterprise Resource Planning system; legal actions or regulatory proceedings and governmental investigations; product liability claims; inadequate patents or other intellectual property protection; incorrect assumptions concerning demographic trends that impact the market for our products; provisions in our bank credit agreements or other debt instruments that may prevent or delay a change in control; the loss of the services of our key management and personnel; decreased availability or increased costs of raw materials which could increase our costs of producing our products; inability to acquire strategic acquisition candidates because of limited financing alternatives; risks inherent in managing and operating businesses in many different foreign jurisdictions; exchange rate fluctuations, as well as the risks described from time to time in Invacare’s reports as filed with the Securities and Exchange Commission. Except to the extent required by law, we do not undertake and specifically decline any obligation to review or update any forward-looking statements or to publicly announce the results of any revisions to any of such statements to reflect future events or developments or otherwise.
Contact:
Invacare Corporation
Investor Inquiries
Gregory C. Thompson, 440-329-6111