In documents filed with the SEC, Barnes & Noble Education provided more granular detail on their fresh infusion of capital. New controlling equity-holder Immersion Corporation is investing through their subsidiary Toro 18 Holdings. Of the $50 million in new equity investment, $45 million is coming from Toro 18, and the remaining $5 million is coming from VitalSource. For the additional $45 million fully backstopped equity rights offering, Toro 18 accounts for a commitment of up to $35 million of the stock, with Outerbridge Capital Management taking $5 million—they hold a board seat, and likely lost big on their significant holding […]
