Dave & Busters (NYSE:DAB)
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From Jun 2019 to Jun 2024
Dave & Buster's, Inc. (NYSE:DAB), WS Midway Holdings,
Inc. and WS Midway Acquisition Sub, Inc. announced today that WS
Midway Acquisition Sub, Inc. is seeking to raise $175 million, before
discounts and expenses, through a private placement of senior notes.
The notes will be offered in the United States only to qualified
institutional buyers within the meaning of Rule 144A under the
Securities Act of 1933, as amended (the "Securities Act"). The notes
will be offered outside the United States to non-U.S. investors
pursuant to Regulation S under the Securities Act.
The notes will have an eight year maturity with interest payable
semi-annually.
The net proceeds from the sale of the notes are expected to be
used to finance, in part, the acquisition of Dave & Buster's, Inc. by
WS Midway Holdings, Inc., an affiliate of Wellspring Capital
Management LLC, a New York-based private investment firm. The
acquisition will be effected by the merger of WS Midway Acquisition
Sub, Inc., a wholly-owned subsidiary of WS Midway Holdings, Inc., with
and into Dave & Buster's, Inc., with Dave & Buster's, Inc. remaining
as the surviving entity. The merger will be completed in accordance
with the Agreement and Plan of Merger, entered into by the parties on
December 8, 2005, which is described in Dave & Buster's current report
on Form 8-K filed on December 9, 2005, and in the definitive proxy
materials it filed with the Securities and Exchange Commission. Upon
closing of the merger, the notes will become the obligations of Dave &
Buster's by operation of law.
The securities to be offered will not be registered under the
Securities Act or any state securities laws and unless so registered,
may not be offered or sold in the United States except pursuant to an
exemption from, or in a transaction not subject to, the registration
requirements of the Securities Act and applicable state securities
laws. 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
offering would be unlawful.
Celebrating over 23 years of operations, Dave & Buster's was
founded in 1982 and is one of the country's leading upscale,
restaurant/entertainment concepts with 46 locations throughout the
United States and in Canada. More information on the company,
including the latest investor presentation is available on the
company's Website, www.daveandbusters.com.
"Safe Harbor" Statement under the Private Securities Litigation
Reform Act of 1995: Statements in this press release regarding Dave &
Buster's business which are not historical facts are "forward-looking
statements" that involve risks and uncertainties. For a discussion of
such risks and uncertainties, which could cause actual results to
differ from those contained in the forward-looking statements, see
"Risk Factors" in the company's Annual Report or Form 10-K for the
most recently ended fiscal year.