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Safeguard Scientifics Sells Private Equity Fund Interests for $24 ... - TMCnet

"Safeguard has a long history of working well with private equity funds," said Peter J. Boni, President and Chief Executive Officer of Safeguard Scientifics, Inc. "This group of funds has performed well, and Safeguard determined that it was a good time to realize an attractive return on its investment." The Company also announced that its board of directors has authorized the use of up to $20 million of the proceeds to repurchase a portion of Safeguard's outstanding 2.625% Convertible Senior Debentures due in 2024. The timing of the repurchases will depend on market conditions and may be Made selectively in the open market or in privately negotiated transactions. "Our board believes Safeguard can repurchase our debt securities opportunistically at attractive prices," said Mr. Boni. "Based on the current market price of the debentures, we believe this repurchase program is a prudent use of our cash." He added that Safeguard has a strong balance sheet enabling The Company to continue meeting the needs of its existing partner companies as well as to acquire additional companies. About Safeguard Safeguard Scientifics, Inc. (NYSE:SFE) advances the value of revenue-stage information Technology and life sciences companies. Safeguard provides growth capital as well as a range - More available

Safeguard Scientifics

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