Subsequent Event - Strategic Alternatives Review
6 Months Ended
Jun. 30, 2012
Subsequent Event - Strategic Alternatives Review  
Subsequent Event - Strategic Alternatives Review

13.  Subsequent Event — Strategic Alternatives Review

 

In July 2012, we announced that our Board of Directors was undergoing a strategic review of the feasibility and relative merits of various financial strategies for the Company, which may include partnerships, strategic business model alternatives, a sale or other transaction.  In connection therewith, we engaged an investment banking firm to assist us in exploring strategic alternatives.  The announcement stated we do not intend to disclose developments in this process until such time as the Board of Directors approves or has a transaction or transactions to recommend to stockholders, or otherwise deems further disclosure appropriate.  A change in control of the Company (as defined) is an event of default under our Amended Credit Facility.  Further, a change in control accelerates the vesting provisions of certain of our equity awards.