Ascent Capital Group announced that its primary operating subsidiary, Monitronics International, has completed the previously announced acquisition of Security Networks.
Ascent Capital Group announced that its primary operating subsidiary, Monitronics International, has completed the previously announced acquisition of Security Networks, for total cash consideration of $482.9 million (after giving effect to certain closing adjustments) plus 253,333 newly issued shares of Ascent Series A common stock.
The cash portion of the Security Networks purchase price was funded by cash on hand at Ascent and new debt consisting of $103.5 million of Convertible Notes issued by Ascent, $175.0 million of New Senior Notes issued by Monitronics and an Incremental Term Loan of $225.0 million issued under Monitronics' existing Credit Facility.