Getty Images Holdings, Inc. (NYSE: GETY) has announced its plans to offer $628,400,000 aggregate principal amount of senior secured notes due 2030 in a private offering. This offering is in connection with the proposed merger with Shutterstock, Inc. to create a premier visual content company.
The gross proceeds from the offering will be deposited in an escrow account and will be secured by a first-priority security interest. If the merger is not consummated by October 6, 2026, or if the agreement to complete the merger is terminated, the notes will be subject to a special mandatory redemption at a redemption price equal to 100% of the issue price plus accrued and unpaid interest.
It is important to note that the notes have not been and will not be registered under the U.S. Securities Act of 1933, and may only be offered or sold to qualified institutional buyers in accordance with Rule 144A under the Securities Act or outside the United States in reliance on Regulation S under the Securities Act.
This press release does not constitute an offer to sell or the solicitation of an offer to buy any security, and shall not constitute an offer, solicitation, or sale in any jurisdiction in which such offer, solicitation, or sale would be unlawful. Today the company's shares have moved 0.25% to a price of $2.015. For the full picture, make sure to review Getty Images's 8-K report.
