A) Can someone dumb this down for me
B) should I worry about this having an effect on share price?
THE WOODLANDS, Texas, May 15, 2020/PRNewswire/ -- CSI Compressco LP ("CSI Compressco" or the "Partnership") (NASDAQ:
CCLP) and the Partnership's wholly owned subsidiary, CSI Compressco Finance Inc. ("Finance Corp" and, together with the Partnership, the "Issuers") today announced that they have extended the Expiration Time for their previously announced offer to exchange (the "Exchange Offer") any and all of their outstanding 7.250% Senior Unsecured Notes due 2022 (CUSIP No. 20467BAB5) (the "Unsecured Notes") for newly issued 7.500% Senior Secured First Lien Notes due 2025 (the "New First Lien Notes") and 7.250% Senior Secured Second Lien Notes due 2027 (the "New Second Lien Notes" and, together with the New First Lien Notes, the "New Notes"), upon the terms and conditions set forth in the Confidential Offering Memorandum and Consent Solicitation Statement dated April 17, 2020, as amended by Supplement No. 1, dated May 1, 2020 (the "Offering Memorandum").
“The Issuers are extending the Expiration Time of the Exchange Offer. The Expiration Time was previously 11:59 P.M., New York City time, on Thursday, May 14, 2020 and will now be extended to 5:00 P.M., New York City Time, on Friday, May 15, 2020, unless extended or earlier terminated by the Issuers. All references to the Expiration Time in the Offering Memorandum are hereby amended such that the Expiration Time will be 5:00 P.M., New York City Time, on Friday, May 15, 2020. Accordingly, Eligible Holders (as defined below) that tender their Unsecured Notes prior to such time will be eligible to receive the Total Consideration, including the Early Tender Premium, which means for each $1,000 principal amount of Unsecured Notes properly tendered (and not properly withdrawn) prior to the Expiration Time, Eligible Holders will be eligible to receive $700 principal amount of New First Lien Notes or, as applicable and subject to proration as described in the Offering Memorandum, $750 in principal amount of New Second Lien Notes. Other than the extension of the Expiration Time described herein, the terms and conditions of the Exchange Offer remain as set forth in the Offering Memorandum.”