NEW YORK, Aug. 25, 2021 /PRNewswire/ -- (NASDAQ:STGW)
-- Stagwell Inc. ("Stagwell") today announced a proposed offering
(the "Add-On Offering") by its subsidiary, Midas OpCo Holdings LLC
(the "Issuer"), of an additional $50
million of the Issuer's 5.625% senior unsecured notes due
2029 (the "New Notes"). The Issuer previously issued $1 billion of its 5.625% senior unsecured notes
due 2029 on August 20, 2021 (the
"Original Notes"). The New Notes will be issued under the indenture
governing the Original Notes and will be treated as a single series
with the Original Notes for all purposes under the indenture. The
New Notes will have the same terms as the Original Notes, other
than with respect to certain terms, including the date of issuance.
The precise timing, size and terms of the Add-On Offering are
subject to market conditions and other factors. No assurance can be
made that the Add-On Offering will be consummated on its proposed
terms or at all.
The Issuer intends to use the net proceeds from the Add-On
Offering to reduce credit facility borrowings and for general
corporate purposes. The New Notes will be guaranteed by all of
Stagwell's domestic subsidiaries that guarantee the Original
Notes.
The New Notes and the related note guarantees will be offered in
a private offering to qualified institutional buyers pursuant to
Rule 144A under the Securities Act of 1933, as amended (the
"Securities Act") and to non-U.S. persons in accordance with
Regulation S under the Securities Act. The New Notes and the
related note guarantees have not been, and will not be, registered
under the Securities Act or any state securities laws. The New
Notes and the related note guarantees may not be offered or sold in
the United States or to, or for
the benefit of, U.S. persons absent registration under, or an
applicable exemption from, the registration requirements of the
Securities Act and applicable state securities laws.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy the New Notes or any other security
and shall not constitute an offer, solicitation or sale in any
jurisdiction in which, or to any persons to whom, such offering,
solicitation or sale would be unlawful. Any offers of the New Notes
will be made only by means of a private offering circular. This
press release is being issued pursuant to and in accordance with
Rule 135c under the Securities Act.
About Stagwell Inc.
Stagwell is the challenger holding company built to transform
marketing. Stagwell delivers scaled creative performance for the
world's most ambitious brands, connecting culture-moving creativity
with leading-edge technology to harmonize the art and science of
marketing. Led by entrepreneurs, Stagwell's 12,000+
specialists in 30+ countries are unified under a single purpose: to
drive effectiveness and improve business results for their
clients.
Forward-Looking Statements
This communication may contain certain forward-looking
statements (collectively, "forward-looking statements") within the
meaning of Section 27A of the U.S. Securities Act of 1933, as
amended and Section 21E of the U.S. Exchange Act and the United
States Private Securities Litigation Reform Act of 1995, as
amended. Statements in this document that are not historical facts,
including statements about Stagwell's beliefs and expectations and
recent business and economic trends, constitute forward-looking
statements. Words such as "estimate," "project," "target,"
"predict," "believe," "expect," "anticipate," "potential,"
"create," "intend," "could," "should," "would," "may," "foresee,"
"plan," "will," "guidance," "look," "outlook," "future," "assume,"
"forecast," "focus," "continue," or the negative of such terms or
other variations thereof and terms of similar substance used in
connection with any discussion of current plans, estimates and
projections are subject to change based on a number of factors.
Such forward-looking statements may include, but are not limited
to, statements related to future financial performance and the
future prospects of the business and operations of Stagwell. A
number of important factors could cause actual results to differ
materially from those contained in any forward-looking statement,
including the risks identified in our filings with the Securities
Exchange Commission (the "SEC").
These forward-looking statements are subject to various risks
and uncertainties, many of which are outside Stagwell's control.
Important factors that could cause actual results and expectations
to differ materially from those indicated by such forward-looking
statements include, without limitation, the risks and uncertainties
set forth under the caption "Risk Factors" in Stagwell's Annual
Report on Form 10-K for the year-ended December 31, 2020 under Item 1A and under the
caption "Risk Factors" in Stagwell's Quarterly Report on Form 10-Q
for the quarter-ended June 30, 2021
under Item 1A. Unless required by law, Stagwell undertakes no
obligation to publicly update or revise any forward-looking
statements to reflect circumstances or events after the date they
are made.
View original content to download
multimedia:https://www.prnewswire.com/news-releases/stagwell-inc-stgw-announces-additional-offering-of-senior-notes-301362894.html
SOURCE Stagwell Inc.