This excerpt taken from the WBMD 8-K filed Nov 23, 2009.
In February 2008, the Company announced its intention to divest its Porex segment, and on October 19, 2009, the Company completed the sale. In connection with the sale of Porex, the Company received $142,000, consisting of $74,500 in cash received at closing, subject to customary adjustment based on the amount of Porexs working capital, and $67,500 in senior secured notes (Senior Secured Notes). The Senior Secured Notes are secured by certain assets of the acquirer. The Senior Secured Notes accrue interest at a rate of 8.75% per annum, payable quarterly. The Senior Secured Notes were issued in four series: the Senior Secured Notes of the first, second and third series have an aggregate principal amount of $10,000 each and mature on the first, second and third anniversaries of the closing, respectively; and the Senior Secured Notes of the fourth series have an aggregate principal amount of $37,500 and mature on the fourth anniversary of the closing.
The financial information of Porex is reflected as discontinued operations in the accompanying financial statements. Summarized operating results for the discontinued operations of Porex are as follows:
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
The major classes of assets and liabilities of Porex are as follows: