LAS VEGAS, Jan. 25, 2018 /PRNewswire/ -- PlayAGS, Inc.
("AGS" or the "Company"), a leading designer and supplier of
electronic gaming machines and other products and services for the
gaming industry, today announced the pricing of its initial public
offering of 10,250,000 shares of its common stock at an initial
public offering price of $16.00 per
share, before underwriting discounts and commissions. The Company
has also granted the underwriters a 30-day option to purchase up to
an additional 1,537,500 shares of its common stock at the initial
public offering price, less underwriting discounts and commissions.
AGS's existing shareholders will not sell any shares in the
offering.
The shares are expected to begin trading on The New York Stock
Exchange (NYSE) under the symbol "AGS" on January 26, 2018. The offering is expected to
close on January 30, 2018 subject to
customary closing conditions.
AGS expects to receive gross proceeds of approximately
$164.0 million from the offering, or
approximately $188.6 million if the
underwriters exercise their over-allotment option in full. AGS
intends to use the gross proceeds from the offering to redeem in
full its PIK notes, and pay fees and expenses in connection with
the offering.
Credit Suisse, Deutsche Bank Securities, Jefferies and Macquarie
Capital are acting as joint book-running managers and as
representatives of the underwriters for the offering. BofA
Merrill Lynch, Citigroup, Nomura, Stifel and SunTrust Robinson
Humphrey are acting as joint book-running managers for the
offering. Roth Capital Partners, Union Gaming, The Williams Capital
Group, L.P. and Apollo Global Securities are acting as co-managers
for the offering.
The offering is being made only by means of a prospectus.
A copy of the prospectus relating to this offering, when available,
may be obtained from any of the following sources:
- Credit Suisse Securities (USA)
LLC, Attention: Prospectus Department, One Madison Avenue,
New York, NY 10010, or by
telephone at (800) 221-1037 or by email at
newyork.prospectus@credit-suisse.com;
- Deutsche Bank Securities Inc., Attention: Prospectus Group, 60
Wall Street, New York, NY 10005,
or by telephone at (800) 503-4611, or by email at
prospectus.CPDG@db.com;
- Jefferies LLC, Attention: Prospectus Department, 520 Madison
Avenue, 2nd Floor, New York,
NY 10022, or by telephone at (877) 821-7388 or by email at
Prospectus_Department@Jefferies.com; or
- Macquarie Capital (USA) Inc.,
Attention: Syndicate Department, 125 West 55th Street,
L-22, New York, NY 10019, or by
telephone at (212) 231-0440 or by email at
MacquarieEquitySyndicateUSA@macquarie.com
A registration statement relating to these securities has been
filed with the Securities and Exchange Commission and has been
declared effective. This press release shall not constitute an
offer to sell or the solicitation of an offer to buy, nor shall
there be any sale of these 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 AGS
AGS is a leading designer and supplier of electronic gaming
machines ("EGMs") and other products and services for the gaming
industry. Historically we have focused on supplying Class II EGMs
to the Native American gaming market. We have recently
expanded our product line-up to include: (i) Class III EGMs for
commercial and Native American casinos, (ii) video bingo machines
for select international markets, (iii) table game products, and
(iv) interactive social casino products.
Forward-Looking and Cautionary Language
This press release contains, and oral statements made from time
to time by our representatives may contain, forward-looking
statements based on management's current expectations and
projections, which are intended to qualify for the safe harbor of
Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended.
Forward-looking statements include statements regarding the
public offering and other statements identified by words such as
"believe," "will," "may," "might," "likely," "expect,"
"anticipates," "intends," "plans," "seeks," "estimates,"
"believes," "continues," "projects" and similar references to
future periods, or by the inclusion of forecasts or projections.
All forward-looking statements are based on current
expectations and projections of future events.
These forward-looking statements reflect the current views,
models, and assumptions of AGS, and are subject to various risks
and uncertainties that cannot be predicted or qualified and could
cause actual results in AGS's performance to differ materially from
those expressed or implied by such forward looking statements.
These risks and uncertainties include, but are not limited
to, the ability of AGS to maintain strategic alliances, unit
placements or installations, grow revenue, garner new market share,
secure new licenses in new jurisdictions, successfully develop or
place proprietary product, comply with regulations, have its games
approved by relevant jurisdictions and other factors set forth
under "Risk Factors" in the registration statement on Form S-1.
All forward-looking statements made herein are expressly
qualified in their entirety by these cautionary statements and
there can be no assurance that the actual results, events or
developments referenced herein will occur or be realized.
Readers are cautioned that all forward-looking statements
speak only to the facts and circumstances present as of the date of
this press release. AGS expressly disclaims any obligation to
update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise.
Contact
Julia
Boguslawski, Chief Marketing Officer, AGS
o: 702-724-1125
e: jboguslawski@PlayAGS.com
All® notices signify marks registered
in the United States.
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SOURCE AGS