Press release
Take-Two Interactive Software Announces Final Results of Offers to Purchase by Zynga Inc. of Any and All of Zynga’s Outstanding 0.25% Convertible Senior Notes due 2024 and 0% Convertible Senior Notes due 2026
NEW YORK--(BUSINESS WIRE)-- Take-Two Interactive Software, Inc. (NASDAQ: TTWO) (“Take-Two”) today announced the expiration and final results of Zynga Inc.’s
About this update from Take-two Interactive Software, Inc.
[{"type":"text","content":" NEW YORK--(BUSINESS WIRE)--\nTake-Two Interactive Software, Inc. (NASDAQ: TTWO) (“Take-Two”) today announced the expiration and final results of Zynga Inc.’s (f/k/a Zebra MS II, Inc.) (“Zynga”), its wholly owned subsidiary, previously announced cash tender offers (each, an “Offer”) to repurchase any and all of Zynga’s outstanding 0.25% Convertible Senior Notes due 2024 (the “2024 Notes”) and 0% Convertible Senior Notes due 2026 (the “2026 Notes” and, together with the 2024 Notes, the “Notes”). The Offers expired at 5:00 p.m., New York City time, on June 22, 2022.\n\nAs of the expiration of the Offers (a) $266,000 aggregate principal amount of the 2024 Notes, representing approximately 0.039% of the total 2024 Notes outstanding, and (b) $845,142,000 aggregate principal amount of the 2026 Notes, representing approximately 96.64% of the total 2026 Notes outstanding, were validly tendered (and not validly withdrawn) pursuant to the applicable Offer. The Company has accepted for repurchase all Notes that were validly tendered (and not validly withdrawn) as of the expiration of the Offers at a purchase price equal to (i) in the case of the 2024 Notes, approximately $1,000.15 per $1,000 principal amount of 2024 Notes, plus accrued and unpaid interest, and (ii) in the case of the 2026 Notes, par.\n\nIn addition, during the period in which the Offers were open, holders of Notes were entitled to convert their Notes in whole or in part (in a principal amount of $1,000 or an integral multiple thereof) at the applicable conversion rate. During such period, (a) $668,315,000 aggregate principal amount of the 2024 Notes, representing approximately 96.86% of the total 2024 Notes outstanding, were surrendered for conversion and (b) no 2026 Notes were surrendered for conversion.\n\nThe Company expects to pay approximately $266,040 for the repurchase of the 2024 Notes, including interest, and approximately $845,142,000 for the repurchase of the 2026 Notes, in each case, on the date hereof. After settlement of all Notes surrendered for conversion and repurchase, $21,419,000 aggregate principal amount of the 2024 Notes will remain outstanding and $29,358,000 aggregate principal amount of the 2026 Notes will remain outstanding.\n\nThis press release is for informational purposes only and is neither an offer to buy nor the solicitation of an offer to ...