HP Inc. (NYSE:HPQ) (“HP”) today commenced an offer to exchange (the
“Exchange Offer”) any and all of its $1,000,000,000 in aggregate
principal amount of outstanding 1.450% Notes due 2026 (the “2026
Outstanding Notes”) and $1,000,000,000 in aggregate principal
amount of outstanding 2.650% Notes due 2031 (the “2031 Outstanding
Notes” and, together with the 2026 Outstanding Notes, the
“Outstanding Notes”), for an equal amount of the applicable series
of its registered 1.450% Notes due 2026 (the “2026 Exchange Notes”)
and 2.650% Notes due 2031 (the “2031 Exchange Notes” and, together
with the 2026 Exchange Notes, the “Exchange Notes” and, together
with the Outstanding Notes, the “Notes”).
The terms of the Exchange Notes are identical in all material
respects to those of the applicable series of the Outstanding
Notes, except that the Exchange Notes have been registered under
the Securities Act of 1933, as amended, and the transfer
restrictions, restrictive legends, registration rights and
additional interest provisions relating to the Original Notes do
not apply to the Exchange Notes. The purpose of the Exchange Offer
is to fulfill the obligations of HP under the registration rights
agreements entered into in connection with the issuance of the
Outstanding Notes. HP will not receive any proceeds from the
Exchange Offer.
The Exchange Offer will expire at 5:00 p.m. Eastern Standard
Time (EST) on January 20, 2022, unless extended (such date and
time, as may be extended, the “Expiration Date”). The settlement
date for the Exchange Offer will occur promptly following the
Expiration Date. The terms of the Exchange Offer and other
information relating to HP and the Exchange Notes are set forth in
a prospectus dated December 20, 2021, a copy of which has been
filed with the Securities and Exchange Commission. HP has not
authorized any person to provide information other than as set
forth in the prospectus.
Copies of the prospectus and the related letter of transmittal
governing the Exchange Offer can be obtained from the exchange
agent, The Bank of New York Mellon Trust Company, N.A., at its
address below:
The Bank of New York Mellon Trust Company, N.A.
as Exchange Agentc/o BNY MellonCorporate Trust Operations-
Reorganization Unit2001 Bryan Street, 10th FloorDallas, Texas
75201Attn: Joseph FeliciaTel: 315-414-3349Fax: 732-667-9408E-mail:
CT_REORG_UNIT_INQUIRIES@bnymellon.com
General
This announcement is for informational purposes only. This
announcement is not an offer to sell or a solicitation of an offer
to purchase any Notes or any other securities of HP or any of its
subsidiaries. The Exchange Offer is being made solely pursuant to
the prospectus dated December 20, 2021, including any supplements
thereto, and only to such persons and in such jurisdictions as is
permitted under applicable law.
About HP
HP Inc. (NYSE: HPQ) is a technology company that believes one
thoughtful idea has the power to change the world. Its product and
service portfolio of personal systems, printers, and 3D printing
solutions helps bring these ideas to life. Visit
http://www.hp.com.
Forward-Looking Statements
This announcement contains “forward-looking statements” based on
current expectations and assumptions that involve risks and
uncertainties. If the risks or uncertainties ever materialize or
the assumptions prove incorrect, the results of HP Inc. and its
consolidated subsidiaries may differ materially from those
expressed or implied by such forward-looking statements and
assumptions. All statements other than statements of historical
fact are statements that could be deemed forward-looking
statements, including, but not limited to, any statements regarding
the potential impact of the COVID-19 pandemic and the actions by
governments, businesses and individuals in response to the
situation; projections of net revenue, margins, expenses, effective
tax rates, net earnings, net earnings per share, cash flows,
benefit plan funding, deferred taxes, share repurchases, foreign
currency exchange rates or other financial items; any projections
of the amount, timing or impact of cost savings or restructuring
and other charges, planned structural cost reductions and
productivity initiatives; any statements of the plans, strategies
and objectives of management for future operations, including, but
not limited to, our business model and transformation, our
sustainability goals, our go-to-market strategy, the execution of
restructuring plans and any resulting cost savings, net revenue or
profitability improvements or other financial impacts; any
statements concerning the expected development, demand,
performance, market share or competitive performance relating to
products or services; any statements concerning potential supply
constraints, component shortages, manufacturing disruptions or
logistics challenges; any statements regarding current or future
macroeconomic trends or events and the impact of those trends and
events on HP and its financial performance; any statements
regarding pending investigations, claims, disputes or other
litigation matters; any statements of expectation or belief,
including with respect to the timing and expected benefits of
acquisitions and other business combination and investment
transactions; and any statements of assumptions underlying any of
the foregoing. Forward-looking statements can also generally be
identified by words such as “future,” “anticipates,” “believes,”
“estimates,” “expects,” “intends,” “plans,” “predicts,” “projects,”
“will,” “would,” “could,” “can,” “may,” and similar terms. Risks,
uncertainties and assumptions include factors relating to the
effects of the COVID-19 pandemic and the actions by governments,
businesses and individuals in response to the situation, the
effects of which may give rise to or amplify the risks associated
with many of these factors listed here; the need to manage (and
reliance on) third-party suppliers, including with respect to
component shortages, and the need to manage HP’s global, multi-tier
distribution network, limit potential misuse of pricing programs by
HP’s channel partners, adapt to new or changing marketplaces and
effectively deliver HP’s services; HP’s ability to execute on its
strategic plan, including the previously announced initiatives,
business model changes and transformation; execution of planned
structural cost reductions and productivity initiatives; HP’s
ability to complete any contemplated share repurchases, other
capital return programs or other strategic transactions; the
competitive pressures faced by HP’s businesses; risks associated
with executing HP’s strategy and business model changes and
transformation; successfully innovating, developing and executing
HP’s go-to-market strategy, including online, omnichannel and
contractual sales, in an evolving distribution, reseller and
customer landscape; the development and transition of new products
and services and the enhancement of existing products and services
to meet evolving customer needs and respond to emerging
technological trends; successfully competing and maintaining the
value proposition of HP’s products, including supplies; challenges
to HP’s ability to accurately forecast inventories, demand and
pricing, which may be due to HP’s multi-tiered channel, sales of
HP’s products to unauthorized resellers or unauthorized resale of
HP’s products or our uneven sales cycle; integration and other
risks associated with business combination and investment
transactions; the results of the restructuring plans, including
estimates and assumptions related to the cost (including any
possible disruption of HP’s business) and the anticipated benefits
of the restructuring plans; the protection of HP’s intellectual
property assets, including intellectual property licensed from
third parties; the hiring and retention of key employees; the
impact of macroeconomic and geopolitical trends and events,
including the effects of inflation; risks associated with HP’s
international operations; the execution and performance of
contracts by HP and its suppliers, customers, clients and partners,
including logistical challenges with respect to such execution and
performance; changes in estimates and assumptions HP makes in
connection with the preparation of its financial statements;
disruptions in operations from system security risks, data
protection breaches, cyberattacks, extreme weather conditions or
other effects of climate change, medical epidemics or pandemics
such as the COVID-19 pandemic, and other natural or manmade
disasters or catastrophic events; the impact of changes to federal,
state, local and foreign laws and regulations, including
environmental regulations and tax laws; potential impacts,
liabilities and costs from pending or potential investigations,
claims and disputes; and other risks that are discussed in “Risk
Factors” in Item 1A of Part I of our Annual Report on Form 10-K for
the fiscal year ended October 31, 2021 and that are otherwise
described or updated from time to time in HP’s other filings with
the Securities and Exchange Commission. The forward-looking
statements in this report are made as of the date of this filing
and HP assumes no obligation and does not intend to update these
forward-looking statements.
HP Media Contacts
HP Media RelationsMediaRelations@hp.com
HP Inc. Investor RelationsInvestorRelations@hp.com
HP (NYSE:HPQ)
Historical Stock Chart
From Mar 2024 to Apr 2024
HP (NYSE:HPQ)
Historical Stock Chart
From Apr 2023 to Apr 2024