New York, Jan. 21 - QuadraMed Corp. filed a registration statement with the Securities and Exchange Commission for $72.3 million of 10% senior secured notes.
QuadraMed issued the notes in April 2003 as part of a restructuring of some of its 5.25% convertible subordinated debentures. It originally issued $71 million and they have since accreted to the current principal amount.
The registration statement will allow the notes to be publicly traded.
QuadraMed, a Reston, Va., healthcare information technology company, also registered 11.586 million shares of stock to be issued on the exercise of warrants for public trading. The warrants were also issued in the restructuring.
The holders of the notes and warrants are Mackay Shields of New York, various funds managed by Zazove Associates of San Francisco, various portfolios managed by Allianz of America Inc. of Westport, Conn., funds managed by Mellon HBV Alternative Strategies of New York, Lampe Conway & Co. LLC of New York, Triage Capital Management LLC of Bala Cynwyd, Pa., OTA LLC of Purchase, N.Y., Lonestar Partners LP of Houston and Philadelphia Brokerage Corp. of Wayne, Pa., including individual holdings held at Philadelphia Brokerage.
| Issuer: | QuadraMed Corp.
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| Issue: | Senior secured notes
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| Amount: | $72.294 million
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| Maturity: | April 1, 2008
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| Coupon: | 10%, reduces to 9% after stock is listed on a U.S. national securities exchange or Nasdaq, including the Nasdaq small cap market; 6% paid in cash and 4% in kind up to April 1, 2004
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| Call: | April 17, 2006 onwards at 101.5, then 100.75, declining to par on April 1, 2008; also excess cash redemption
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