Cahill Represents Underwriters in Common Stock Offering for KEMET Corporation
Cahill represented the underwriter in connection with a secondary offering of 8,416,814 shares of common stock of KEMET Corporation. In connection with the offering, the underwriter agreed to purchase and exercise a warrant to issue such shares held by K Equity, LLC, an affiliate of Platinum Equity Capital Partners II, L.P. at a price of $21.56999 per underlying share of common stock of KEMET Corporation, which includes the cash exercise price of $1.04999 per underlying share to be paid by the underwriter to KEMET Corporation. The offering resulted in gross proceeds of $172,713,023.28 to K Equity, LLC. KEMET Corporation did not receive any proceeds from the sale of the shares, but KEMET Corporation did receive approximately $8,837,570.54 from the underwriter in connection with the cash exercise of the warrant.