Take-Two Interactive Software, Inc. Announces Pricing of $1.0 Billion Senior Notes Offering
10 Abril 2023 - 6:30PM
Business Wire
Take-Two Interactive Software, Inc. (NASDAQ: TTWO) (the
“Company”) announced today that it has agreed to sell in an
underwritten public offering $1.0 billion aggregate principal
amount of its Senior Notes, consisting of $500 million of its
5.000% Senior Notes due 2026 and $500 million of its 4.950% Senior
Notes due 2028.
The Company intends to use the net proceeds from the offering to
repay in full its outstanding term loan, which has a principal
balance of $350.0 million as of December 31, 2022 and matures on
June 21, 2023, and the remainder for general corporate purposes,
including the repurchase or retirement of the Company’s other
outstanding indebtedness.
The closing of the offering is expected to occur on April 14,
2023, subject to satisfaction of customary closing conditions.
J.P. Morgan Securities LLC, Wells Fargo Securities, LLC, BNP
Paribas Securities Corp. and BofA Securities, Inc. are acting as
joint book-running managers 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. You may obtain copies
of these documents without charge from the SEC’s website at
www.sec.gov. Alternatively, you may request these documents 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 or Wells Fargo Securities, LLC,
Attention: WFS Customer Service, 608 2nd Avenue South, Suite 1000,
Minneapolis, Minnesota 55402, by email at
wfscustomerservice@wellsfargo.com or by calling 1-800-645-3751.
This announcement does not constitute an offer to sell or the
solicitation of an offer to buy the Senior Notes or any other
securities, nor will there be any sale of Senior 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
and publishes products principally through Rockstar Games, 2K,
Private Division, and Zynga. Our products are designed for console
systems, personal computers, 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 our 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 our
combination with Zynga; the uncertainty of the impact of the
COVID-19 pandemic and measures taken in response thereto; the
effect that measures taken to mitigate the COVID-19 pandemic have
on our operations, including our ability to timely deliver our
titles and other products, and on the operations of our
counterparties, including retailers and distributors; the effects
of the COVID-19 pandemic on both consumer demand and the
discretionary spending patterns of our customers as the situation
with the pandemic continues to evolve; the risks of conducting
business internationally; 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; our dependence on
key management and product development personnel; our dependence on
our NBA 2K and Grand Theft Auto products and our ability to develop
other hit titles; our ability to leverage opportunities on
PlayStation®5 and Xbox Series X|S; the timely release and
significant market acceptance of our games; the ability to maintain
acceptable pricing levels on our games; and risks associated with
international operations. 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 entitled “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/20230410005418/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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