LAS VEGAS, Feb. 28, 2018 /PRNewswire/ -- PlayAGS, Inc.
(NYSE: AGS) ("AGS" or the "Company"), a leading designer and
supplier of electronic gaming machines ("EGMs") and other products
and services for the gaming industry, today announced that the
underwriters of the Company's recent initial public offering
("IPO") consummated the exercise of the over-allotment option in
full and purchased an additional 1,537,500 shares at the IPO price
of $16 per share, less underwriting
discounts and commissions. After deducting underwriting
discounts and commissions, net proceeds from the over-allotment
option totaled approximately $23
million.
Following the issuance of the over-allotment, AGS has 35,166,288
shares outstanding.
Credit Suisse, Deutsche Bank Securities, Jefferies and Macquarie
Capital acted as joint book-running managers and as representatives
of the underwriters for the offering. BofA Merrill Lynch,
Citigroup, Nomura, Stifel and SunTrust Robinson Humphrey acted as
joint book-running managers for the offering. Roth Capital
Partners, Union Gaming, The Williams Capital Group, L.P. and Apollo
Global Securities acted as co-managers for the offering.
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 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 and its annual report on Form 10-K filed with the
Securities and Exchange Commission on March
10, 2017, as amended on December 18,
2017. 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 because of new
information, future events or otherwise.
Contact
Julia Boguslawski, Chief Marketing
Officer & EVP of Investor Relations, AGS
o: 702-724-1125
e: jboguslawski@PlayAGS.com
SOURCE AGS