Studio City Announces Update on Private Placements
August 03 2020 - 6:24AM
Studio City International Holdings Limited (NYSE: MSC) (“Studio
City” or the “Company”), a world-class integrated resort located in
Cotai, Macau, today announced that in relation to the series of
private offers of its Class A ordinary shares (the “Class A
Private Placements”) announced previously by the Company, it has
entered into subscription agreements with certain existing
institutional shareholders and holders of its American depositary
shares (“ADSs”), including MCO Cotai Investments Limited, a
wholly-owned subsidiary of Melco Resorts & Entertainment
Limited, New Cotai, LLC and Silver Point Capital, L.P.
Upon completion of the Class A Private
Placements, Studio City is expected to receive gross proceeds of
approximately US$500 million.
This press release is neither an offer to sell
nor the solicitation of an offer to buy any such securities or any
other securities and shall not constitute an offer, solicitation or
sale in any jurisdiction in which such offering, solicitation or
sale would be unlawful. The Class A ordinary shares are being
offered in an offering exempt from registration under the
Securities Act of 1933, as amended (the “Securities Act”), and
outside the United States in reliance on Regulation S under the
Securities Act. The Class A ordinary shares have not been
registered under the Securities Act or any state securities laws
and may not be offered or sold in the United States without
registration or an applicable exemption from the registration
requirements of the Securities Act or any applicable state
securities laws.
Safe Harbor Statement
This press release contains forward-looking
statements. These statements are made under the “safe harbor”
provisions of the U.S. Private Securities Litigation Reform Act of
1995. Studio City International Holdings Limited (the “Company”)
may also make written or oral forward-looking statements in its
periodic reports to the U.S. Securities and Exchange Commission
(the “SEC”), in its annual report to shareholders, in press
releases and other written materials and in oral statements made by
its officers, directors or employees to third parties. Statements
that are not historical facts, including statements about the
Company’s beliefs and expectations, are forward-looking statements.
Forward-looking statements involve inherent risks and
uncertainties, and a number of factors could cause actual results
to differ materially from those contained in any forward-looking
statement. These factors include, but are not limited to,
(i) growth of the gaming market and visitations in Macau,
(ii) capital and credit market volatility, (iii) local
and global economic conditions, (iv) our anticipated growth
strategies, (v) gaming authority and other governmental
approvals and regulations, and (vi) our future business
development, results of operations and financial condition. In some
cases, forward-looking statements can be identified by words or
phrases such as “may”, “will”, “expect”, “anticipate”, “target”,
“aim”, “estimate”, “intend”, “plan”, “believe”, “potential”,
“continue”, “is/are likely to” or other similar expressions.
Further information regarding these and other risks, uncertainties
or factors is included in the Company’s filings with the SEC. All
information provided in this press release is as of the date of
this press release, and the Company undertakes no duty to update
such information, except as required under applicable law.
About Studio City International Holdings
Limited
The Company, with its American depositary shares
listed on the New York Stock Exchange (NYSE: MSC), is a world-class
integrated resort located in Cotai, Macau.
For investment community, please contact:
Richard Huang Director, Investor RelationsTel: +852 2598 3619
Email: richardlshuang@melco-resorts.com
For media enquiries, please contact:
Chimmy Leung Executive Director, Corporate Communications Tel:
+852 3151 3765 Email: chimmyleung@melco-resorts.com
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