LAS VEGAS, Dec. 10, 2019 (GLOBE NEWSWIRE) -- 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.
Contacts
Investor Relations
Everi Holdings Inc.
William Pfund
VP, Investor Relations
702-676-9513 or william.pfund@everi.com
JCIR
Richard Land, James Leahy
212-835-8500 or evri@jcir.com