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 Exclusive financial advisor to the Company in connection with the Secured Creditors' sale of 80% of the Company's Common Stock and 94% of the Company's Secured Notes to Leucaia National Corporation.
WebLink Wireless, Inc., provides wireless electronic mail, wireless instant messaging, information on-demand, and traditional paging services. WebLink operates the largest nationwide narrowband wireless data network in the US. The network's ReFLEX technology enables seamless one-way and two-way data messaging at a highly competitive cost. WebLink has approximately 1 million data messaging Units in Service (UIS).
- Chanin was retained as exclusive financial advisor to WebLink in the sale of the Company in late October 2002.
- A robust auction process was established by contacting nearly 100 financial and strategic buyers. Chanin effectively leveraged its network of contacts in the private equity and turnaround investing community.
- A collaborative effort with the WebLink management team allowed Chanin to complete the transaction within 8 weeks.
- The closing of the sale of the Company's debt securities and a definitive purchase agreement for the Company's common stock was entered into by WebLink's Senior Creditors and Leucadia National Corporation on December 31, 2002.
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