Everi Announces the Completion of its Common Stock Offering
December 10 2019 - 11:45AM
Everi Holdings Inc. (NYSE: EVRI) (“Everi” or the “Company”), a
premier single-source provider of gaming products, financial
technology and player loyalty solutions in the gaming industry,
today announced the completion of its previously announced
underwritten public offering of 10,000,000 shares at a public
offering price of $11.25 per share (“the Offering”). The
Company also granted the underwriters a 30-day option to purchase
up to an additional 1,500,000 shares of the Company’s common stock
at the public offering price, which the underwriters exercised in
full. Total net proceeds for the Offering were approximately
$123,000,000, after underwriting discounts but before estimated
offering expenses payable by the Company.
The Company intends to use the net proceeds from
the Offering to refinance a portion of its existing indebtedness in
one or more transactions, which may include the repayment of
certain outstanding borrowings under the Company’s existing term
loan facility and/or the redemption and/or repurchase of a portion
of its outstanding 7.50% Senior Unsecured Notes due 2025. Pending
the deployment of the net proceeds for such refinancing
transactions, the Company may invest the net proceeds in
short-term, interest-bearing, investment-grade securities.
Jefferies and Stifel acted as joint book-running
managers, Craig-Hallum Capital Group and Raymond James acted as
joint lead managers, and SunTrust Robinson Humphrey acted as
co-manager for the Offering.
This Offering was made pursuant to an effective
shelf registration statement and prospectus and a related
preliminary prospectus supplement filed by the Company with the
Securities and Exchange Commission (“SEC”). This press
release shall not constitute an offer to sell or the solicitation
of any offer to buy, nor shall there be any sale of these
securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction. A preliminary prospectus supplement relating to, and
describing the terms of, the Offering has been filed with the SEC
and is available on the SEC’s website at www.sec.gov.
Copies of the preliminary prospectus supplement
and related prospectus for this Offering can be obtained from
Jefferies LLC, Attention: Equity Syndicate Prospectus Department,
520 Madison Avenue, 2nd Floor, New York, New York 10022, or by
email: Prospectus_Department@Jefferies.com, or by telephone: 1
(877) 821-7388; and from Stifel, Nicolaus & Company,
Incorporated, Attention: Syndicate, One South Street, 17th Floor,
Baltimore, Maryland 21202, or by telephone: 1 (855) 300-7136, or by
email: Syndprospectus@stifel.com.
Forward-Looking Statements
The forward-looking statements in this press
release are subject to a variety of risks and uncertainties,
including those set forth under the heading “Risk Factors” and
“Management’s Discussion and Analysis of Financial Condition and
Results of Operations” in our periodic reports filed with the
Securities and Exchange Commission (the “SEC”), including, without
limitation, our Annual Report on Form 10-K for the year ended
December 31, 2018, and are based on information available to us on
the date hereof.
These cautionary statements qualify our
forward-looking statements and you are cautioned not to place undue
reliance on these forward-looking statements. Any forward-looking
statements, including the use of proceeds from the Offering,
contained herein speaks only as of the date, today December 10,
2019, on which it is made, and we do not intend, and assume no
obligation, to update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise,
except as required by law.
About Everi
Everi is a leading supplier of imaginative
entertainment and trusted technology solutions for the casino,
interactive, and gaming industry. With a focus on both customers
and players, the Company develops entertaining games and gaming
machines, gaming systems and services, and is the preeminent and
most comprehensive provider of core financial products and
services, player loyalty tools and applications, and intelligence
and regulatory compliance solutions. Everi’s mission is to provide
casino operators with games that facilitate memorable player
experiences, offer seamless and secure financial transactions for
casinos and their patrons, and deliver software tools and
applications to improve casino operations efficiencies and fulfill
regulatory compliance requirements. Everi provides these products
and services in its effort to help make customers successful.
ContactsInvestor
RelationsEveri Holdings Inc.William PfundVP, Investor
Relations702-676-9513 or william.pfund@everi.com
JCIRRichard Land, James Leahy212-835-8500 or evri@jcir.com
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