Everi Announces Pricing of Public Offering of Common Stock
December 05 2019 - 6:10PM
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 pricing of its previously announced
underwritten public offering of 10,000,000 shares of its common
stock at a public offering price of $11.25 per share (the
“Offering”), for net proceeds of approximately $107,000,000, after
underwriting discount but before estimated offering expenses
payable by the Company. The Company has 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. The Offering is expected to close on December 10,
2019, subject to customary closing conditions.
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 are acting as joint
book-running managers, Craig-Hallum Capital Group and Raymond James
are acting as joint lead managers, and SunTrust Robinson Humphrey
is acting as co-manager for the Offering.
This Offering is being 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 sale of common stock and use of proceeds
therefrom, contained herein speaks only as of the date, today
December 5, 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
Everi (NYSE:EVRI)
Historical Stock Chart
From Mar 2024 to Apr 2024
Everi (NYSE:EVRI)
Historical Stock Chart
From Apr 2023 to Apr 2024