LINCOLNSHIRE, Ill.,
Sept. 30, 2014 /PRNewswire/ -- Zebra
Technologies Corporation (NASDAQ: ZBRA) today announced the pricing
of its offering of $1.05 billion
in aggregate principal amount of 7 ¼% senior unsecured notes due
2022 (the "Notes") in a private offering. The Notes were priced at
100% of par. The sale of the Notes is expected to be completed on
October 15, 2014, subject to
customary closing conditions.
Zebra intends to use the net proceeds from the Notes offering,
together with cash on hand and proceeds from Zebra's previously
announced senior secured term loan, upsized to $2.2 billion, to fund the $3.45 billion cash acquisition of the
Enterprise business of Motorola Solutions, Inc. (NYSE: MSI), as
well as to pay related transaction fees and expenses. The proceeds
from the private offering of the Notes will be placed into escrow
until the closing of the acquisition. The Notes will be senior
unsecured obligations of Zebra and will be guaranteed by certain of
Zebra's domestic subsidiaries following the closing of the
acquisition.
The Notes and related guarantees have not been registered under
the Securities Act of 1933, as amended ("Securities Act"), or the
securities laws of any other jurisdiction, and may not be offered
or sold in the United States
absent registration or an applicable exemption from the
registration requirements. This offering will be made only to
qualified institutional buyers in accordance with Rule 144A under
the Securities Act and to non-U.S. persons in accordance with
Regulation S under the Securities Act.
This press release is for informational purposes only and shall
not constitute an offer to sell or the solicitation of an offer to
buy the Notes and related guarantees. Any offer of the Notes and
related guarantees is not being made to any person in any
jurisdiction in which the offer, solicitation or sale is
unlawful.
Forward-looking Statements
This press release contains
forward-looking statements within the meaning of federal securities
laws. Statements related to, among other things, the consummation
of the offering of the Notes and related guarantees, the escrow of
the proceeds from the proposed offering, the use of proceeds from
the proposed offering and potential changes in market conditions
constitute forward-looking statements. For a description of factors
that may cause Zebra's actual results, performance or expectations
to differ from any forward-looking statements, please review the
information under the heading "Risk Factors" included in Item 1A of
Zebra's 2013 Annual Report on Form 10-K and other documents of
Zebra's on file with or furnished to the Securities and Exchange
Commission. Any forward-looking statements made in this press
release are qualified by these cautionary statements, and there can
be no assurance that the actual results or developments anticipated
by Zebra will be realized or, even if substantially realized, that
they will have the expected consequences to, or effects on, Zebra
or its business or operations. Except as required by law, Zebra
undertakes no obligation to update publicly or revise any
forward-looking statement, whether as a result of new information,
future developments or otherwise. We caution you that actual
outcomes and results may differ materially from what is expressed,
implied or forecasted by Zebra's forward-looking statements.
Contact:
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Investors:
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Media:
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Douglas A. Fox,
CFA
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Robb
Kristopher
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Vice President,
Investor Relations
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Director, Corporate
Communications
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and
Treasurer
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and Public
Relations
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+ 1 847 793 6735
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+ 1 847 793 5514
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dfox@zebra.com
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rkristopher@zebra.com
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SOURCE Zebra Technologies Corporation