Ziff Davis Will Have About $25 Million in Additional Capital to Work With in Q3

According to the terms of the 12% notes, Ziff Davis has to use about 80% of the proceeds from asset sales to pay off senior debt, which, at this point, is the 12% notes. The company can apply for a waiver on this payment if it wants to reinvest the money, but I doubt that this will happen. So, after ZD gets the full $150 million from the sale, it will have about $25 million left over after applying the money to various debt payments.

This is good news for the company. Read the rest of this entry »