LOS ANGELES, Sept. 14, 2021 /PRNewswire/ -- Live Nation
Entertainment, Inc. (NYSE: LYV) (the "company") announced that it
intends to offer, subject to market and other conditions,
$450 million of common stock
registered under the Securities Act of 1933, as amended.
The company intends to use the net proceeds from the offering to
fund the previously announced acquisition of 51% of the capital
stock of OCESA Entretenimiento, S.A. de C.V. (the "OCESA
Acquisition"). The company intends to use any remaining proceeds
for general corporate purposes. The consummation of the offering of
the common stock offered hereby is not conditioned upon the
completion of the OCESA Acquisition.
Goldman Sachs & Co. LLC is acting as sole book-running
manager for the offering.
This press release does not constitute an offer to sell, or the
solicitation of an offer to buy, any securities referred to in this
press release, nor will there be any sale of any such securities,
in any state or other jurisdiction in which such offer, sale or
solicitation would be unlawful prior to registration or
qualification under the securities laws of such state or
jurisdiction.
We have filed a shelf registration statement on Form S-3 and
such registration statement has become effective on September 14, 2021. The offering of these
securities may only be made by means of a preliminary prospectus
supplement and accompanying prospectus. Before you invest, you
should read the applicable preliminary prospectus supplement and
the prospectus in that registration statement and other documents
we have filed with the SEC for more complete information about us
and the offering. You may get these documents free by visiting
EDGAR on the SEC website at www.sec.gov. Alternatively, we, the
underwriter or any dealer participating in the applicable offering
will arrange to send you the applicable preliminary prospectus
supplement and the accompanying prospectus upon request to: Goldman
Sachs & Co. LLC, Attention: Prospectus Department, 200 West
Street, New York, NY 10282, or by
telephone at (866) 471-2526, or by email at
prospectus-ny@ny.email.gs.com.
Forward-Looking Statements
This news release contains forward-looking statements, including
statements related to the offering and the expected use of the net
proceeds, which are based on current expectations, forecasts and
assumptions that involve risks and uncertainties that could cause
actual results to differ materially from any future results,
performance or achievements expressed or implied by such
forward-looking statements. These risks and uncertainties include,
without limitation, risks related to whether the company will
consummate the offering of the common stock on the expected terms,
or at all, the trading price and volatility of the company's common
stock, market and other general economic conditions, and the fact
that the company's management will have discretion in the use of
the proceeds from any sale of the common stock. The company refers
you to the documents it files with the Securities and Exchange
Commission, specifically the section titled "Item 1A. Risk Factors"
of its Annual Report on Form 10-K for the year ended December 31, 2020 and its Quarterly Reports on
Form 10-Q for the quarters ended March 31,
2021 and June 30, 2021, which
contain and identify important factors that could cause actual
results to differ materially from those contained in the company's
projections or forward-looking statements. You are cautioned not to
place undue reliance on these forward-looking statements, which
speak only as of the date on which they are made. Based upon
changing conditions, should any risk or uncertainty that has
already materialized, such as, for example, the risks and
uncertainties posed by the global COVID-19 pandemic, worsen in
scope, impact or duration, or should one or more of the currently
unrealized risks or uncertainties materialize, or should any
underlying assumptions prove incorrect, actual results may vary
materially from those described in any forward-looking statements.
The company undertakes no obligation to update any forward-looking
statement, whether as a result of changes in underlying factors,
new information, future events or otherwise.
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SOURCE Live Nation Entertainment