EZCORP, Inc. (NASDAQ: EZPW) has announced its intention to offer $300,000,000 aggregate principal amount of senior notes due 2032 in a private offering. The notes will be senior unsecured obligations of the company and fully and unconditionally guaranteed by certain of the company’s wholly owned domestic subsidiaries. The company plans to use a portion of the net proceeds from the offering to repay its outstanding 2.375% convertible senior notes due 2025 at maturity, with the remainder allocated for general corporate purposes.
The notes are being offered in a private placement to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, or to certain non-U.S. persons in reliance on Regulation S under the Securities Act. It's important to note that the offer and sale of the notes and related guarantees have not been registered under the Securities Act or the securities laws of any state or other jurisdiction.
There is no assurance that the offering of the notes will be completed or, if completed, the terms on which it will be done. It's also important to note that the press release emphasized that the announcement is neither an offer to sell nor a solicitation of an offer to buy any securities, nor will there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction.
This press release does not contain any specific financial metrics or changes from the previous period. Today the company's shares have moved 4.3% to a price of $14.86. If you want to know more, read the company's complete 8-K report here.
