Agilysys Announces Pricing of Secondary Offering of Common Stock by Selling Stockholders
February 14 2024 - 7:42PM
Business Wire
Agilysys, Inc. (NASDAQ: AGYS) (“Agilysys,” “our” or the
“Company”), a leading global provider of hospitality software
solutions that deliver High Return Hospitality, today announced the
pricing of the previously announced underwritten secondary offering
of 867,729 shares of its common stock (the “Offering”) by certain
investment funds managed by MAK Capital, resulting in gross
proceeds to the selling stockholders of $72.7 million. Agilysys is
not selling any shares in the Offering and will not receive any
proceeds from the sale of the offered shares by the selling
stockholders. The Offering is expected to close on February 20,
2024, subject to customary closing conditions.
BTIG, LLC is acting as the sole underwriter for the Offering.
The shares will be offered from time-to-time for sale in one or
more transactions on the Nasdaq Stock Market, in the
over-the-counter market, through negotiated transactions or
otherwise at market prices prevailing at the time of sale, at
prices related to prevailing market prices or at negotiated
prices.
The Offering is being made pursuant to an effective shelf
registration statement filed with the Securities and Exchange
Commission (the “SEC”) on September 15, 2023. The Offering is being
made only by means of a final prospectus supplement and the
accompanying base prospectus, copies of which may be obtained
through the SEC’s website at www.sec.gov. Alternatively, copies may
be obtained from: BTIG, LLC, 600 Montgomery Street, San Francisco,
CA 94111 Attention: Syndicate Department (415-248-2200) or by email
at prospectusdelivery@btig.com.
This press release does not constitute an offer to sell, or a
solicitation of an offer to buy, any securities, nor shall there be
any sale of securities in any state or jurisdiction in which such
an offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state or jurisdiction.
About Agilysys:
Agilysys exclusively delivers state-of-the-art software
solutions and services that help organizations achieve High Return
Hospitality™ by maximizing Return on Experience (ROE) through
interactions that make ‘personal’ profitable. Customers around the
world use Agilysys Property Management Systems (PMS), Point-of-Sale
(POS) solutions and Inventory and Procurement (I&P) systems to
consistently delight guests, retain staff and grow margins.
Agilysys’ 100% hospitality customer base includes branded and
independent hotels; multi-amenity resorts; casinos; property, hotel
and resort management companies; cruise lines; corporate dining
providers; higher education campus dining providers; food service
management companies; hospitals; lifestyle communities; senior
living facilities; stadiums; and theme parks. Agilysys operates
across the Americas, Europe, the Middle East, Africa, Asia-Pacific,
and India with headquarters located in Alpharetta, GA.
Forward-Looking
Language:
This press release contains “forward-looking statements” within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. Forward-looking statements related to future events,
including, but not limited to statements regarding the Offering,
including the consummation thereof. Forward-looking statements can
be identified by words such as: “anticipate,” “intend,” “plan,”
“goal,” “seek,” “believe,” “project,” “estimate,” “expect,”
“strategy,” “future,” “likely,” “may,” “should,” “will” and similar
references to future periods.
Forward-looking statements are neither historical facts nor
assurances of future performance. Instead, they are based only on
our current beliefs, expectations and assumptions regarding the
future of our business, future plans and strategies, projections,
anticipated events and trends, the economy and other future
conditions. Because forward-looking statements relate to the
future, they are subject to inherent uncertainties, risks and
changes in circumstances that are difficult to predict and many of
which are outside of our control. Our actual results and financial
condition may differ materially from those indicated in the
forward-looking statements. Therefore, you should not rely on any
of these forward-looking statements. Important factors that could
cause our actual results and financial condition to differ
materially from those indicated in the forward-looking statements
include, among others, the risks described in the Company’s filings
with the Securities and Exchange Commission, including the
Company’s reports on Form 10-K and Form 10-Q.
Any forward-looking statement made by us in this press release
is based only on information currently available to us and speaks
only as of the date on which it is made. We undertake no obligation
to publicly update any forward-looking statement that may be made
from time to time, whether written or oral, whether as a result of
new information, future developments or otherwise.
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version on businesswire.com: https://www.businesswire.com/news/home/20240214198850/en/
Investor Contact: Jessica
Hennessy Senior Director Corporate Strategy & Investor
Relations Agilysys, Inc. 770-810-6116 or
investorrelations@agilysys.com
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