Olshan Represents Steel Partners Holdings in Acquisition of Majority Interest in iGo, Inc.
iGo, Inc. announced that it completed the acquisition of Kasco LLC in a share contribution transaction under which Kasco has become a wholly owned subsidiary of iGo. Kasco was previously wholly owned by a subsidiary of Olshan client Steel Partners Holdings L.P. Steel Partners contributed all of its issued and outstanding ownership interests in Kasco to iGo in exchange for 5,000,000 shares of iGo common stock, at a value of $3.20 per share, and iGo assumed $15 million of Kasco indebtedness, with access to a total of $18.5 million in borrowing capacity as part of a revolving credit sub-facility under Steel Partners' existing $700 million credit line. Following the transaction, Steel Partners now owns 80.2 percent of iGo's common stock. Corporate attorneys that represented Steel Partners with its financing arrangements in connection with its acquisition of a majority interest in iGo include Steve Wolosky, Jason Saltsberg, Claudia Dubón and law clerk John Corrado.