Capital Southwest Venture
Corporation, a wholly-owned subsidiary of Capital Southwest
Corporation CSWC, sold its 9,317,310 shares of common stock of
Heelys, Inc. ("Heelys") to Sequential Brands Group, Inc. ("Sequential")
pursuant to the merger of Heelys into a wholly-owned subsidiary of Sequential
(the "Merger"). Pursuant to the Merger, which closed on January 24, 2013,
Sequential acquired all of the outstanding shares of common stock of Heelys
for $2.25 per share in cash.
The sale of CSVC's 9,317,310 shares of Heelys' common stock generated cash
proceeds of $20,963,948 and a capital gain of $20,861,458. In December 2006,
CSVC recognized a gain of $31,070,149 when it sold 7,393,750 shares of Heelys
during its initial public offering. This brings the total realized gain in
Heelys to $51,931,607. Additionally, in December 2008, CSVC received a
dividend from Heelys in the amount of $9,317,310.
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