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Everi Holds Public Stock Offering

Everi Holds Public Stock Offering

On December 10, Everi Holdings Inc. announced the completion of an underwritten public offering of 10 million shares at a price of $11.25 per share. The company, a premier provider of gaming products, financial technology and player loyalty solutions, also granted underwriters a 30-day option to purchase an additional 1.5 million shares of common stock at the public offering price, which the underwriters exercised in full.

Total net proceeds for the offering were approximately $123 million 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 7.5 percent senior unsecured notes due in 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.