Endurance International Group Announces Potential Repricing of Its Senior Secured Term Loan
June 06 2018 - 4:05PM
Endurance International Group Holdings, Inc. (NASDAQ:EIGI)
(“Endurance” or the “Company”), a leading provider of cloud-based
platform solutions designed to help small and medium-sized
businesses succeed online, today announced a potential repricing of
its senior secured term loan maturing in February 2023.
The consummation of the potential repricing is subject to
completion of definitive agreements as well as market and other
conditions. There can be no assurance that the repricing will
occur, or, if it does, as to the terms or conditions of the
repricing.
Endurance also announced today that it is confirming its
previously announced 2018 GAAP revenue, adjusted EBITDA and free
cash flow guidance, as set forth in its earnings release issued on
May 1, 2018. As previously disclosed, the Company’s free cash
flow guidance does not reflect the impact of payments pursuant to
its settlement with the U.S. Securities & Exchange Commission
(“SEC”) announced in the Company’s Form 8-K, filed June 5, 2018, or
the potential securities class action lawsuit settlements described
in the Company’s Form 8-K filed on May 18, 2018, both of which will
impact the Company’s actual free cash flow for 2018.
Forward-Looking Statements
This press release includes certain “forward-looking statements”
within the meaning of the Private Securities Litigation Reform Act
of 1995, Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended,
including statements concerning the potential repricing, our
financial guidance for 2018, the potential settlements of class
action lawsuits against the Company, and the expected impact of
such potential settlements and the completed SEC settlement on the
Company’s free cash flow for 2018. These forward-looking statements
include, but are not limited to, plans, objectives, expectations
and intentions and other statements contained in this press release
that are not historical facts, and statements identified by words
such as “expects,” “believes,” “estimates,” “may,” “continue,”
“positions,” “confident,” “potential,” and variations of such words
or words of similar meaning and the use of future dates. These
forward-looking statements reflect our current views about our
plans, intentions, expectations, strategies and prospects, which
are based on the information currently available to us and on
assumptions we have made. Although we believe that our plans,
intentions, expectations, strategies and prospects as reflected in
or suggested by those forward-looking statements are reasonable, we
can give no assurance that these plans, intentions, expectations,
strategies or prospects will be attained or achieved. Furthermore,
actual results may differ materially from those described in the
forward-looking statements and will be affected by a variety of
risks and factors that are beyond our control including, without
limitation: the possibility that the securities class action
lawsuits mentioned above do not settle, either at the amount we
have reserved in our financial statements or at all; the
possibility that our financial guidance may differ from
expectations (including due to our payment of legal settlements);
the possibility that our planned investment and operational
initiatives will not result in the anticipated benefits to our
business; the possibility that we will continue to experience
decreases in our subscriber base; an adverse impact on our business
from litigation or regulatory proceedings; an adverse impact on our
business from our substantial indebtedness and the cost of
servicing our debt; the rate of growth of the Small and Medium
Business (“SMB”) market for our solutions; our inability to
increase sales to our existing subscribers, or retain our existing
subscribers; data breaches; system or Internet failures; our
inability to maintain or improve our competitive position or market
share; and other risks and uncertainties discussed in our filings
with the SEC, including those set forth under the caption “Risk
Factors” in our Quarterly Report on Form 10-Q for the period ended
March 31, 2018 filed with the SEC on May 4, 2018 and other reports
we file with the SEC.
We assume no obligation to update any forward-looking statements
contained in this document as a result of new information, future
events or otherwise.
About Endurance International Group
Endurance International Group Holdings, Inc. (NASDAQ:EIGI)
(em)Powers millions of small businesses worldwide with products and
technology to enhance their online web presence, email marketing,
mobile business solutions, and more. The Endurance family of brands
includes: Constant Contact, Bluehost, HostGator, Domain.com and
SiteBuilder, among others. Headquartered in Burlington,
Massachusetts, Endurance employs over 3,500 people across the
United States, Brazil, India and the Netherlands. For more
information, visit: www.endurance.com.
Endurance International Group and the compass logo are
trademarks of The Endurance International Group, Inc.
Constant Contact, the Constant Contact logo and other brand names
of Endurance International Group are trademarks of The Endurance
International Group, Inc. or its subsidiaries.
Investor Contact:Angela WhiteEndurance
International Group(781) 852-3450ir@endurance.com
Press Contact:Kristen AndrewsEndurance
International Group(781) 418-6716press@endurance.com
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