MoneyGram Announces $100,000,000 At-The-Market Equity Offering Program - PRNewswire
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Jun 07, 2021, 07:35 ET
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DALLAS, June 7, 2021 /PRNewswire/ -- MoneyGram Worldwide, Inc. (NASDAQ: MGI) ("MoneyGram" or the "Firm") introduced immediately that it has established an "at-the-market" fairness providing program (the "ATM Program") beneath which it might provide and promote, sometimes, shares of its widespread inventory (the "Shares") having an mixture gross sales worth of as much as $100 million, and has entered into an ATM Fairness ProvidingSM Gross sales Settlement (the "Gross sales Settlement") with BofA Securities, Inc. ("BofA"), as gross sales agent.
Upon supply of an issuance discover and topic to the phrases and circumstances of the Gross sales Settlement, BofA will use commercially cheap efforts, in step with its regular buying and selling and gross sales practices and relevant regulation and laws, to promote the Shares sometimes based mostly upon MoneyGram's directions for the gross sales, together with worth, time and dimension limits specified by the Firm. Pursuant to the Gross sales Settlement, gross sales of the Shares could also be made by any technique permitted by regulation and deemed to be an "on the market" providing as outlined in Rule 415 of the Securities Act of 1933, as amended, together with block trades, unusual brokers' transactions on Nasdaq or in any other case at market costs prevailing on the time of sale, at costs associated to prevailing market costs or at negotiated costs, or by every other technique permitted by regulation. Underneath the phrases of the Gross sales Settlement, MoneyGram may promote Shares to BofA as principal for its personal account, at a worth to be agreed upon on the time of sale.
MoneyGram isn't obligated to promote any Shares beneath the Gross sales Settlement and will at any time droop solicitations and provides beneath the Gross sales Settlement. The Gross sales Settlement could also be terminated by MoneyGram at any time by giving written discover to BofA for any purpose or by BofA at any time by giving written discover to MoneyGram for any purpose, or instantly beneath sure circumstances in accordance with the phrases of the Gross sales Settlement. The ATM Program pursuant to the Gross sales Settlement will routinely terminate upon the issuance and sale of Shares having an mixture gross sales worth of $100 million.
MoneyGram intends to make use of the web proceeds from the sale of the Shares to partially repay excellent indebtedness beneath the Firm's First Lien Credit score Settlement, dated June 26, 2019, with Financial institution of America, N.A. appearing as administrative agent, and the lender events thereto, as amended (the "First Lien Credit score Settlement"), and/or beneath the Firm's Second Lien Credit score Settlement, dated as of June 26, 2019, with Financial institution of America, N.A., as administrative agent, the monetary establishments get together thereto as lenders and the opposite brokers get together thereto (the "Second Lien Credit score Settlement"), and to pay for sure prices related to the refinancing of the First Lien Credit score Settlement and Second Lien Credit score Settlement that the Firm is presently considering for the third quarter of 2021.
The Shares might be supplied beneath the Firm's present shelf registration assertion on Kind S-3 (Registration No. 333-255122) filed with the Securities and Trade Fee (the "SEC"). The providing is being made via a prospectus complement to the prospectus contained within the registration assertion. Earlier than investing within the Shares, potential traders ought to learn the prospectus and the prospectus complement for extra full details about MoneyGram and the providing. Potential traders could receive these paperwork without spending a dime by visiting EDGAR on the SEC's web site at www.sec.gov. Alternatively, the Firm or BofA will organize, upon request, to ship the prospectus. Please direct requests to: BofA Securities, Inc. by mail at NC1-004-03-43, 200 North School Road, 3rd Flooring, Charlotte, NC 28255-0001, Consideration: Prospectus Division, by e mail to [email protected] or by phone at 1-800-294-1322.
This press launch does not represent a proposal to promote or the solicitation of a proposal to purchase, nor shall there be any sale of those securities, in any state or different jurisdiction wherein such provide, solicitation or sale could be illegal previous to registration or qualification beneath the securities legal guidelines of any such state or different jurisdiction.
About MoneyGram Worldwide, Inc.
MoneyGram is main the evolution of digital P2P funds. With a purpose-driven technique to mobilize the motion of cash, a powerful tradition of fintech innovation, and main customer-centric capabilities, MoneyGram has grown to serve practically 150 million folks throughout the globe during the last 5 years.
The Firm leverages its fashionable, cell, and API-driven platform and collaborates with the world's main manufacturers to serve shoppers by MoneyGram On-line (MGO), its direct-to-consumer digital enterprise, its international retail community and its rising embedded finance enterprise for enterprise clients, MoneyGram as a Service.
For extra info, please go to ir.moneygram.com and comply with @MoneyGram.
This communication incorporates forward-looking statements that are protected as forward-looking statements beneath the Personal Securities Litigation Reform Act of 1995 that aren't restricted to historic information, however mirror MoneyGram's present beliefs, expectations or intentions relating to future occasions and communicate solely as of the date they're made. Phrases equivalent to "could," "may," "will," "might," "ought to," "would," "count on," "plan," "undertaking," "intend," "anticipate," "imagine," "estimate," "predict," "potential," "pursuant," "goal," "forecast," "outlook," "proceed," "presently," and related expressions are meant to establish such forward-looking statements. The statements on this communication that aren't historic statements are forward-looking statements throughout the that means of the federal securities legal guidelines. Particular forward-looking statements embody, amongst others, statements relating to the Firm's anticipated use of proceeds from the ATM Program. Ahead-looking statements are topic to quite a few dangers and uncertainties which can be troublesome to foretell and plenty of of that are past MoneyGram's management, which might trigger precise outcomes to vary materially from the outcomes expressed or implied by the statements.
These dangers and uncertainties embody, however usually are not restricted to:
Extra info regarding elements that would trigger precise outcomes to vary materially from these within the forward-looking statements is contained sometimes in MoneyGram's SEC filings. MoneyGram's SEC filings could also be obtained by contacting MoneyGram, by MoneyGram's site at ir.moneygram.com or by the SEC's Digital Knowledge Gathering and Evaluation Retrieval System at www.sec.gov. MoneyGram undertakes no obligation to publicly replace or revise any forward-looking assertion.
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