Acrisure Announces Proposed Notes Offering
Acrisure, LLC (the "Company") and Acrisure Finance, Inc. (together with the Company, the "Issuers") announced today that they plan to offer, subject to market conditions, approximately $1,375,000,000 aggregate principal amount of secured senior notes due 2030 and $500,000,000 aggregate principal amount of unsecured senior notes due 2029 (together, the "notes"). The Issuers intend to use a portion of the net proceeds from the notes offering to refinance the 2023 Refinancing Term Loans (as defined in the Credit Agreement), the 2021-2 Additional Term Loans (as defined in the Credit Agreement) and the outstanding borrowings under the revolving credit facility in the First Lien Credit Agreement, dated November 22, 2016 (as amended, restated, amended and restated, supplemented or otherwise modified from time to time, the "Credit Agreement"), along with the provision of funds to facilitate the concurrent tender offer for up to all of the $400 million aggregate outstanding principal amount of our outstanding 10.125% Senior Notes due 2026 (the "2026 Notes"). The Issuers expect to use any remaining net proceeds from the notes offering to pay related transaction fees and expenses. This press release does not constitute an offer to sell or a solicitation of an offer to sell the 2026 Notes or a notice of redemption.
The notes have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"), any state securities laws or the securities laws of any other jurisdiction, and may not be offered or sold in the United States absent registration or an applicable exemption from registration. Accordingly, the notes are being offered and sold only to persons reasonably believed to be qualified institutional buyers in accordance with Rule 144A under the Securities Act and outside the United States in reliance on Regulation S under the Securities Act.
This press release does not constitute an offer to sell, or the solicitation of an offer to buy, any security and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful.
About Acrisure
Acrisure is An Extraordinary Advantage? for millions of clients worldwide. The Company combines humans and high tech to deliver a broad array of products including Insurance, Reinsurance, Cyber Services, Mortgage Origination and more. In the last ten years, Acrisure has grown in revenue from $38 million to $4.4 billion and today employs over 17,000 colleagues in over 21 countries.
Forward-Looking Statements
This press release contains "forward-looking statements" which are subject to certain risks, trends and uncertainties. In particular, statements made that are not historical facts may be forward-looking statements. Words such as "should," "may," "will," "anticipates," "expects," "intends," "plans," "believes," "seeks," "estimates," "contemplates" and similar expressions identify forward-looking statements. Such statements are not guarantees of future performance and are subject to risks and uncertainties that could cause actual results to differ materially from the results projected, expressed or implied by these forward-looking statements. Such forward-looking statements include statements regarding the intention to issue new notes and to use offering proceeds to repay outstanding debt and fund acquisitions. Such forward-looking statements speak only as of the date of this press release and the Company does not undertake any obligation to update any forward-looking statements.
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