CARLSBAD, Calif., Dec. 7, 2018 /PRNewswire/ -- NTN Buzztime,
Inc. (NYSE American: NTN) today announced that its board of
directors is exploring and evaluating strategic alternatives
focused on maximizing shareholder value, including, among other
things, a potential acquisition of the company or its assets.
"While we continue to focus on executing against our business
plan, our board of directors believes now is the right time to
explore strategic alternatives that have the potential to position
the business for long-term success. Our board of directors is
committed to fully evaluating appropriate strategic alternatives
while simultaneously supporting the company's management and
employees in their ongoing efforts to execute against our business
plan," said Jeff Berg, Chairman of
NTN Buzztime.
D. A. Davidson & Co. is serving as the company's financial
advisor in connection with the strategic process.
The company's board of directors has not set a timetable for the
strategic process nor has it made any decisions relating to any
strategic alternatives at this time, and no assurance can be given
as to the outcome of the process. The company does not intend
to disclose additional details regarding the strategic process
unless and until further disclosure is appropriate or
necessary.
Forward-looking Statements
NTN Buzztime
cautions you that statements in this press release that are not a
description of historical fact are forward-looking statements.
Forward-looking statements may be identified by the use of words
referencing future events or circumstances such as "expect,"
"intend," "plan," "anticipate," "believe," and "will," among
others. Examples of forward-looking statements in this press
release include statements relating to potential strategic
transactions for the company and/or its assets and the value such
transactions may provide the company's
stockholders. Forward-looking statements should not be read as
guarantees of future performance or results because they involve
the company's beliefs and assumptions based on currently available
information and are subject to significant known and unknown risks
and uncertainties that may cause actual performance and results to
differ materially from expectations indicated by the
forward-looking statements. Some factors that could cause actual
performance or results to differ include, without limitation: that
the company's process for identifying and evaluating potential
strategic transactions is ongoing and may not result in
consummation of a strategic transaction; the potential for
companies that express interest in a strategic transaction with the
company to determine not to pursue a transaction or to offer terms
that are not acceptable to the company's board of directors or its
stockholders; the risk that any strategic transaction that the
company may consummate may offer limited value for its products and
technology and may not enhance stockholder value or provide
expected benefits; and other risks and uncertainties more
fully described in the company's press releases and its reports
filed with the Securities and Exchange Commission. Please see NTN
Buzztime's recent filings with the Securities and Exchange
Commission for information about these and other risks that may
affect the company. You are cautioned not to place undue reliance
on forward-looking statements, which speak only as of the date when
made and are based on information available to the company on the
date hereof. Except as required by law, NTN Buzztime does not
undertake to publicly update or revise any of its forward-looking
statements to reflect events or circumstances arising after the
date hereof.
About Buzztime:
Buzztime (NYSE American: NTN)
delivers interactive entertainment and innovative technology,
including performance analytics and secure payment with Europay,
MasterCard® and Visa® (EMV) chip card readers or with near-field
communication (NFC) technology to accept Apple, Android and Samsung
Pay. Most frequently used in bars and restaurants in North America, the Buzztime tablets and
technology offer engaging solutions to establishments that have
guests who experience dwell time, such as casinos, senior living,
and more. Casual dining venues license Buzztime's customizable
solution to differentiate themselves via competitive fun by
offering guests trivia, card, sports and arcade games, customized
menus and self-service dining features. Buzztime's platform
improves operating efficiencies, creates connections among the
players and venues, and amplifies guests' positive experiences. The
Buzztime platform has also been recently resold and the content
licensed for other businesses serving other markets. For more
information, please visit http://www.buzztime.com or follow us on
Facebook or Twitter @buzztime.
IR AGENCY CONTACT:
Becky Herrick/Kirsten Chapman, LHA
buzztime@lhai.com
415-433-3777
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SOURCE NTN Buzztime, Inc.