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Forescout Falls as Advent Asks for Trial to Be Adjourned (1)

July 10, 2020, 7:33 PM

(Adds Forescout comment in 7th bullet.)

  • Forescout fell as much as 3.1% after a lawyer for buyer Advent asked the court to adjourn the July 20 trial as the original lenders for the deal have taken the position that their lender commitment terminated on June 12, according to a letter sent to Judge Sam Glasscock before a teleconference later Friday.
  • Advent lawyer says in letter that the lenders sent a letter to Advent on June 13 terminating their debt commitment
  • “The debt financing is no longer available and cannot be relied upon to establish a necessary condition precedent for specific...

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