|[November 19, 2020]
Presidio Prices $125 Million Notes Offering
Presidio, Inc. (together with its subsidiaries, "Presidio," the "Company," "our" or "we"), a leading North American IT solutions provider, announced today that its wholly-owned subsidiary, Presidio Holdings Inc. ("Presidio Holdings"), has priced an offering of $125.0 million in aggregate principal amount of additional 4.875% senior secured notes due 2027 (the "New Notes") at an issue price of 104.000%, for an effective yield to maturity of 4.134%. The initial 4.875% senior secured notes due 2027 were issued in an aggregate principal amount of $400.0 million on January 22, 2020.
The sale of the New Notes is expected to be completed on or about November 24, 2020, subject to customary closing conditions. The New Notes will be senior secured obligations of Presidio Holdings and will be guaranteed by certain of its domestic subsidiaries.
The New Notes and related guarantees were offered only to qualified institutional buyers in reliance on Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"), or, outside the United States, to persons other than "U.S. persons" in compliance with Regulation S under the Securities Act. This press release does not constitute an offer to sell or the solicitation of an offer to buy the New Notes and related guarantees. Any offers of the New Notes and related guarantees were made only by means of a private offering memorandum. The New Notes and related guarantees have not been registered under the Securities Act, or the securities laws of any other jurisdction, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.
Presidio is a leading IT services and solutions provider that helps customers connect IT of today to IT of tomorrow. Our deep technology expertise across cloud, security, modern IT infrastructure and networking underpin our ability to help customers accelerate time-to-outcome via agile digital platforms. We deliver this technology expertise through a full life cycle model of professional, managed, and support services including strategy, consulting, implementation, and design. By taking the time to deeply understand how our clients define success, we help them harness technology advances, simplify IT complexity, and optimize their environments today while enabling future applications, user experiences, and revenue models. As of June 30, 2020, we served approximately 7,300 middle-market, large, and government organizations across a diverse range of industries. Approximately 2,800 Presidio professionals, including approximately 1,600 technical engineers, are based in more than 57 offices across the United States in a unique, local delivery model combined with the national scale of a $2.8 billion-dollar industry leader. We are passionate about driving results for our clients and delivering the highest quality of service in the industry.
Note Regarding Forward-Looking Statements
This press release includes "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are subject to known and unknown risks and uncertainties, many of which may be beyond our control. We caution you that the forward-looking information presented in this press release is not a guarantee of future events, and that actual events may differ materially from those made in or suggested by the forward-looking information contained in this press release. In addition, forward-looking statements generally can be identified by the use of forward-looking terminology such as "may," "plan," "seek," "comfortable with," "will," "expect," "intend," "estimate," "anticipate," "believe" or "continue" or the negative thereof or variations thereon or similar terminology. Any forward-looking information presented herein is made only as of the date of this press release, and we do not undertake any obligation to update or revise any forward-looking information to reflect changes in assumptions, the occurrence of unanticipated events, or otherwise.
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