GameStop Announces $250 Million Private Offering of Senior Notes
September 16 2014 - 12:00PM
Business Wire
GameStop Corp. (NYSE: GME), a family of specialty retail brands
that makes the most popular technologies affordable and simple,
today announced that, subject to market conditions, it intends to
offer and sell $250 million in aggregate principal amount of
unsecured senior notes due 2019 to eligible purchasers in a private
offering (the "Notes Offering").
GameStop intends to use the net proceeds from the Notes Offering
to pay down its $400 million asset-based facility and for general
corporate purposes, which may include acquisitions, dividends and
stock buybacks.
The notes have not been and will not be registered under the
Securities Act of 1933, as amended (the “Securities Act”) or the
securities laws of any other jurisdiction and may not be offered or
sold in the United States absent registration or an applicable
exemption from registration requirements of the Securities Act or
the securities laws of any other jurisdiction. Accordingly, the
notes are expected to be eligible for resale in the United States
only to qualified institutional buyers pursuant to Rule 144A of the
Securities Act and outside the United States to non-U.S. persons in
compliance with Regulation S of the Securities Act. This
announcement shall not constitute an offer to sell or a
solicitation of an offer to buy any of these securities nor shall
there be any sale of these securities in any state in which such
offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of any such state.
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995, including the expected offering and sale of our notes. Such
statements are based upon the current beliefs and expectations of
GameStop's management and are subject to significant risks and
uncertainties. Actual results may differ from those set forth in
the forward-looking statements. GameStop undertakes no obligation
to publicly update or revise any forward-looking statements. The
following factors, among others, could cause actual results to
differ from those set forth in the forward-looking statements: the
inability to obtain sufficient quantities of product to meet
consumer demand, including console hardware and accessories; the
timing of release of video game titles for current generation
consoles; the risks associated with international operations,
wireless industry operations and the integration of acquisitions;
the impact of increased competition and changing technology in the
video game industry, including browser and mobile games and
alternative methods of distribution; and economic, regulatory and
other events, including litigation, that could reduce or impact
consumer demand or affect the company’s business. Additional
factors that could cause GameStop's results to differ materially
from those described in the forward-looking statements can be found
in GameStop's Annual Report on Form 10-K for the fiscal year ended
February 1, 2014 filed with the SEC and available at the SEC's
Internet site at http://www.sec.gov.
Matt HodgesVice President,Public and Investor RelationsGameStop
Corp.(817) 424-2130
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