Take-Two Interactive Software, Inc. Announces Pricing of Add-On Offering of $350 Million of Senior Notes
04 Janeiro 2024 - 7:15PM
Business Wire
Take-Two Interactive Software, Inc. (NASDAQ: TTWO) (the
“Company”) announced today that it has agreed to sell in an
underwritten public add-on offering $350 million aggregate
principal amount of its Senior Notes, consisting of $50 million of
its 5.000% Senior Notes due 2026 and $300 million of its 4.950%
Senior Notes due 2028 (the “new notes”).
The new notes will be issued as additional notes under the
existing indenture pursuant to which the Company previously issued
$500 million aggregate principal amount of its 5.000% Senior Notes
due 2026 and $500 million aggregate principal amount of its 4.950%
Senior Notes due 2028 (the “existing notes”), all of which remain
outstanding. The new notes will have the same terms as the
respective series of existing notes other than the date of issuance
and the initial offering price, will be treated as a single series
of securities with the respective series of existing notes under
the indenture, will be fungible with the respective series of
existing notes for U.S. federal income tax purposes and will have
the same respective CUSIP numbers as the existing notes.
The Company intends to use the net proceeds from the offering
for general corporate purposes, including the retirement at
maturity of the Company’s 3.300% Senior Notes due 2024.
The closing of the offering is expected to occur on January 8,
2024, subject to satisfaction of customary closing conditions.
J.P. Morgan Securities LLC is acting as the lead book-running
manager for the offering. The offering is being made only by means
of a prospectus supplement and the accompanying prospectus, which
is filed as part of an effective shelf registration statement filed
by the Company with the Securities and Exchange Commission (“SEC”)
on April 6, 2022. Copies of these documents may be obtained without
charge from the SEC’s website at www.sec.gov. Alternatively, these
documents may be requested by contacting J.P. Morgan Securities LLC
at 383 Madison Avenue, New York, NY 10179, Attention: Investment
Grade Syndicate Desk – 3rd Floor. Telephone: (212) 834-4533.
This announcement does not constitute an offer to sell or the
solicitation of an offer to buy the new notes or any other
securities, nor will there be any sale of new notes or any other
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.
About Take-Two Interactive Software
Headquartered in New York City, Take-Two Interactive Software,
Inc. is a leading developer, publisher, and marketer of interactive
entertainment for consumers around the globe. The Company develops,
operates and publishes products principally through Rockstar Games,
2K, Private Division, and Zynga. Our products are currently
designed for console gaming systems, PC, and mobile, including
smartphones and tablets, and are delivered through physical retail,
digital download, online platforms, and cloud streaming services.
The Company’s common stock is publicly traded on NASDAQ under the
symbol TTWO.
All trademarks and copyrights contained herein are the property
of their respective holders.
Cautionary Note Regarding Forward-Looking Statements
Statements contained herein which are not historical facts are
considered forward-looking statements under federal securities laws
and may be identified by words such as “anticipates,” “believes,”
“estimates,” “expects,” “intends,” “plans,” “potential,”
“predicts,” “projects,” “seeks,” “should,” “will,” or words of
similar meaning and include, but are not limited to, statements
regarding the outlook for the Company’s future business and
financial performance. Such forward-looking statements are based on
the current beliefs of the Company’s management as well as
assumptions made by and information currently available to them,
which are subject to inherent uncertainties, risks and changes in
circumstances that are difficult to predict. Actual outcomes and
results may vary materially from these forward-looking statements
based on a variety of risks and uncertainties including: risks
relating to the Company’s combination with Zynga Inc.; the risks of
conducting business internationally, including as a result of
unforeseen geopolitical events; the impact of changes in interest
rates by the Federal Reserve and other central banks, including on
our short-term investment portfolio; the impact of inflation;
volatility in foreign currency exchange rates; the Company’s
dependence on key management and product development personnel; the
Company’s dependence on its NBA 2K and Grand Theft Auto products
and its ability to develop other hit titles; the Company’s ability
to leverage opportunities on PlayStation®5 and Xbox Series X|S;
factors affecting its mobile business, such as player acquisition
costs; the timely release and significant market acceptance of the
Company’s games; and the ability to maintain acceptable pricing
levels on the Company’s games. Other important factors and
information are contained in the Company’s most recent Annual
Report on Form 10-K, including the risks summarized in the section
therein titled “Risk Factors,” the Company’s most recent Quarterly
Report on Form 10-Q, and the Company’s other periodic filings with
the SEC, which can be accessed at www.take2games.com. All
forward-looking statements are qualified by these cautionary
statements and apply only as of the date they are made. The Company
undertakes no obligation to update any forward-looking statement,
whether as a result of new information, future events or
otherwise.
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version on businesswire.com: https://www.businesswire.com/news/home/20240104722788/en/
(Investor Relations) Nicole Shevins Senior Vice President
Investor Relations & Corporate Communications Take-Two
Interactive Software, Inc. (646) 536-3005
nicole.shevins@take2games.com
(Corporate Press) Alan Lewis Vice President Corporate
Communications & Public Affairs Take-Two Interactive
Software, Inc. (646) 536-2983 Alan.Lewis@take2games.com
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