Restoration Hardware Holdings, Inc. Announces Pricing of $300 Million Convertible Notes Offering
The Company intends to use this additional capital to fund its business initiatives including the continuing transformation of its real estate platform, paying down higher interest borrowings from the Company's current credit line, and strengthening the Company's balance sheet over the next five years.
The notes will not bear interest and will be due on
The immediate use of proceeds from the offering will be to pay the net
cost of the convertible note hedge transactions and general corporate
purposes, including repayment of all of the outstanding indebtedness
under the Company’s credit facility. The sale of the notes to the
initial purchasers is expected to settle on
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. The notes and the shares of common stock issuable upon
conversion of the notes, if any, will not be registered under the
Securities Act of 1933, as amended (the “Act”) or any state securities
laws, and unless so registered, may not be offered or sold in
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Forward-Looking Statements
Some of the statements in this press release are “forward-looking” and
are made pursuant to the safe harbor provision of the Private Securities
Litigation Reform Act of 1995. These “forward-looking” statements
include statements relating to, among other things, any dilution impact
to holders of the common stock due to the notes and the convertible note
hedge and warrant transactions, the future market capitalization of the
Company and its future stock price and the expected use of proceeds from
these transactions. These statements involve risks and uncertainties
that may cause results to differ materially from the statements set
forth in this press release. The forward-looking statements in this
press release speak only as of the date of this press release and are
subject to uncertainty and changes. Given these circumstances, you
should not place undue reliance on these forward-looking statements.
Source:
Cammeron McLaughlin, 415-945-4998
VP, Investor Relations
cmclaughlin@rh.com