ISLE OF MAN--(BUSINESS WIRE)--Dec. 4, 2017--
Eros International Plc (NYSE: EROS) (the “Company”), a leading global
company in the Indian film entertainment industry, today announced that
it entered into definitive agreements with an institutional investor in
connection with a registered direct offering of $122.5 million aggregate
principal amount of its senior convertible notes due 2020 and warrants
to purchase 2,000,000 of the Company’s A ordinary shares, for gross
proceeds of $100 million, before deducting estimated offering expenses.
The Company intends to use the net proceeds to repay amounts outstanding
under its revolving credit facility and for general corporate purposes.
The offering is expected to close on or around December 6, 2017, subject
to satisfaction of customary closing conditions.
Citigroup Global Markets Inc. served as capital markets advisor to the
Company in connection with the offering.
The securities are being offered pursuant to a registration statement on
Form F-3 (including a prospectus) and a prospectus supplement for the
offering to which this communication relates which have been filed with
the Securities and Exchange Commission (the “SEC”). The registration
statement was declared effective on October 2, 2017. Investors should
read the prospectus in that registration statement and the prospectus
supplement for the offering to which this communication relates and
other documents that the Company has filed and will file with the SEC
for more complete information about the Company and the offering. You
may obtain these documents for free by visiting EDGAR on the SEC’s
website at www.sec.gov.
Alternatively, copies of the prospectus supplement and accompanying base
prospectus related to this offering may be obtained from the Company:
Eros International Plc, 550 County Avenue Secaucus, New Jersey 07094, or
by calling (201) 558-9021.
This press release does not constitute an offer to sell or the
solicitation of offers to buy any securities, and shall not constitute
an offer, solicitation or sale of any security 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 Eros International Plc
Eros International Plc (NYSE: EROS) is a leading global company in the
Indian film entertainment industry that acquires, co-produces and
distributes Indian films across all available formats such as cinema,
television and digital new media. The Company was the first Indian media
company to list on the New York Stock Exchange and has experience of
over three decades in establishing a global platform for Indian cinema.
The Company has a competitive advantage through its extensive and
growing movie library comprising over 3,000 films, which include Hindi,
Tamil, and other regional language films for home entertainment
distribution. The Company also owns the rapidly growing OTT platform
Eros Now. For further information please visit: www.erosplc.com.
This press release contains forward-looking statements.Forward-looking
statements typically are identified by the use of terms such as “may,”
“will,” “should,” “might,” “expect,” “anticipate,” “estimate,” “plan,”
“intend,” “goal,” “project,”, “strategy,” “future,” and similar words,
although some forward-looking statements are expressed differently.These
statements include but are not limited to statements regarding the
proposed offering and the intended use of the net proceeds from the
offering.You are cautioned not to place undue reliance on
forward-looking statements, which reflect management’s expectations only
as of the date of this press release. Such statements involve known and
unknown risks, uncertainties, assumptions and other factors many of
which are out of the Company’s control and difficult to forecast that
may cause actual results to differ materially from those that may be
described or implied.The Company cannot be certain that the
offering will be completed on the terms discussed above, or at all.The
other risks described in the Company’s Annual Report on Form 20-F for
the fiscal year ended March 31, 2017 and other reports and registration
statements that the Company files with the SEC from time to time should
be carefully considered.The Company undertakes no obligation to
publicly release the results of any revision or update of these
forward-looking statements, whether as a result of new information,
future events or otherwise, except as required by law.The
Company nonetheless reserves the right to make such updates from time to
time by press release, periodic report or other method of public
disclosure without the need for specific reference to this press release.No such update shall be deemed to indicate that other statements not
addressed by such update remain correct or create an obligation to
provide any other updates.
View source version on businesswire.com: http://www.businesswire.com/news/home/20171204005435/en/
Source: Eros International Plc
Eros International Plc
Mark Carbeck, +44 207 258 9909
Corporate and Strategy Officer
Erica Bartsch, +1 212-446-1875