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.
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