TEMPE,
Ariz. and PRAGUE,
Feb. 13,
2025 /PRNewswire/ -- Gen Digital Inc. (NASDAQ: GEN),
a global leader dedicated to powering Digital Freedom through its
family of consumer brands, announced today that it has priced
$950 million aggregate principal
amount of its 6.25% senior notes due 2033 (the "Notes"), which were
offered in a private offering (the "Notes Offering") that is exempt
from the registration requirements of the Securities Act of 1933,
as amended (the "Securities Act").
The offering of the Notes is expected to close on February 13, 2025, subject to customary closing
conditions. We intend to use the net proceeds of this Notes
Offering, together with cash on hand, to repurchase all of our
outstanding 5.00% Senior Notes due 2025 (the "2025 Notes") and pay
accrued and unpaid interest thereon.
The Notes are being offered only to persons reasonably believed
to be qualified institutional buyers in reliance on Rule 144A under
the Securities Act, and outside the
United States, only to non-U.S. investors pursuant to
Regulation S. The Notes will not be registered under the Securities
Act or the securities laws of any state and may not be offered or
sold in the United States absent
registration or an applicable exemption from the registration
requirements of the Securities Act and applicable state laws.
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy any security and shall not
constitute an offer, solicitation or sale in any jurisdiction in
which such offer, solicitation or sale would be unlawful. This
press release also shall not constitute an offer to purchase, a
solicitation of an offer to sell, or notice of redemption with
respect to the 2025 Notes. This press release is being issued
pursuant to and in accordance with Rule 135c under the Securities
Act.
About Gen
Gen™ (NASDAQ: GEN) is a global company dedicated to powering
Digital Freedom through its trusted Cyber Safety brands, Norton,
Avast, LifeLock, Avira, AVG, ReputationDefender and CCleaner. The
Gen family of consumer brands is rooted in providing safety for the
first digital generations. Now, Gen empowers people to live their
digital lives safely, privately, and confidently today and for
generations to come. Gen brings award-winning products and services
in cybersecurity, online privacy and identity protection to nearly
500 million users in more than 150 countries. Learn more at
GenDigital.com.
Cautionary Statement Concerning Forward-Looking
Statements
This press release contains forward-looking statements, which
are subject to safe harbors under the Exchange Act of 1934, as
amended. Forward-looking statements include statements that
represent our expectations or beliefs concerning future events,
including, without limitation, references to our ability to utilize
our deferred tax assets, as well as statements including words such
as "expects," "plans," "anticipates," "believes," "estimates,"
"predicts," "goal," "intent," "momentum," "projects," "forecast,"
"outlook," "strategy," "future," "opportunity," "plan," "may,"
"should," "will," "would," "will be," and similar expressions. In
addition, projections of our future financial performance,
anticipated growth and trends in our businesses and in our
industries, the consummation of or anticipated impacts of
acquisitions, divestitures, restructurings, stock repurchases,
financings, debt repayments and investment activities, the outcome
or impact of pending litigation, claims or disputes, our intent to
pay quarterly cash dividends in the future, plans for and
anticipated benefits of our products and solutions, anticipated tax
rates, benefits and expenses, the impact of inflation, fluctuations
in foreign currency exchange rates, changes in interest rates,
ongoing and new geopolitical conflicts, and other global
macroeconomic factors on our operations and financial performance,
the expected impact of our new strategy and other characterizations
of future events or circumstances are forward-looking statements.
These statements are only predictions, based on our current
expectations about future events and may not prove to be accurate.
We do not undertake any obligation to update these forward-looking
statements to reflect events occurring or circumstances arising
after the date of this press release.
Investor Relations & Media Contact
Jason Starr
Gen
IR@GenDigital.com
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SOURCE Gen Digital Inc.
