At Home Group Inc. (“At Home” or “the Company”) (NYSE: HOME),
the home décor superstore, today announced that due to the pending
merger transaction with funds affiliated with Hellman &
Friedman, the Company will postpone its 2021 Annual Meeting of
Stockholders. The Annual Meeting, which was scheduled to be held
tomorrow, will be held in the event the H&F transaction is not
approved or otherwise does not occur, in which case a new date for
the Annual Meeting will be announced.
About At Home
At Home (NYSE: HOME), the home decor superstore, offers over
50,000 on-trend home products to fit any budget or style, from
furniture, mirrors, rugs, art and housewares to tabletop, patio and
seasonal decor. At Home is headquartered in Plano, Texas, and
currently operates 227 stores in 40 states. For more information,
please visit us online at investor.athome.com.
Additional Information and Where to Find It
This communication may be deemed to be solicitation material in
respect of the proposed acquisition of the Company by an affiliate
of Hellman & Friedman LLC. In connection with the proposed
Merger, the Company filed a preliminary proxy statement (the “Proxy
Statement”) with the Securities and Exchange Commission (“SEC”) on
June 2, 2021, and will file with the SEC and furnish to its
stockholders a definitive proxy statement and other relevant
documents. INVESTORS AND STOCKHOLDERS OF THE COMPANY ARE ADVISED TO
READ ALL RELEVANT DOCUMENTS FILED WITH THE SEC, INCLUDING THE PROXY
STATEMENT AND THE DEFINITIVE PROXY STATEMENT WHEN IT BECOMES
AVAILABLE (INCLUDING ALL AMENDMENTS AND SUPPLEMENTS THERETO)
BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION. Investors and
stockholders of the Company may obtain a free copy of the Proxy
Statement, the definitive proxy statement (when it becomes
available) and other relevant documents filed by the Company with
the SEC at the SEC’s Web site at http://www.sec.gov. The Proxy
Statement, the definitive proxy statement (when it becomes
available) and such other documents once filed by the Company with
the SEC may also be obtained for free from the Investor Relations
section of the Company’s web site (http://investor.athome.com/) or
by directing a request to: the Company, 1600 East Plano Parkway,
Plano, Texas, 75074, Attention: Investor Relations. Copies of
documents filed by the Company with the SEC may also be obtained
for free at the SEC’s Web site at http://www.sec.gov.
Participants in the Solicitation
The Company and its officers and directors may be deemed to be
participants in the solicitation of proxies from the stockholders
of the Company in connection with the proposed Merger. Information
about the Company’s executive officers and directors is set forth
in the Company’s Annual Report on Form 10-K, which was filed by the
Company with the SEC on March 24, 2021, the proxy statement for the
Company’s 2021 annual meeting of stockholders, which was filed by
the Company with the SEC on May 4, 2021 and the Proxy Statement,
which was filed by the Company with the SEC on June 2, 2021.
Investors and stockholders of the Company may obtain more detailed
information regarding the direct and indirect interests of the
Company and its executive officers and directors in the proposed
Merger by reading the Proxy Statement and the definitive proxy
statement regarding the proposed Merger when it is filed with the
SEC. You may obtain free copies of these documents as described in
the preceding paragraph (including the definitive proxy statement,
when available).
Cautionary Statements Regarding Forward-Looking
Information
This document contains forward-looking statements made pursuant
to and within the meaning of the safe harbor provisions of the
Private Securities Litigation Reform Act of 1995. You can generally
identify forward-looking statements by the Company’s use of
forward-looking terminology such as “anticipate”, “are confident”,
“assume”, “believe”, “continue”, “could”, “estimate”, “expect”,
“intend”, “look ahead”, “look forward”, “may”, “might”, “on track”,
“outlook”, “plan”, “potential”, “predict”, “reaffirm”, “seek”,
“should”, “trend”, “will”, or “vision”, or the negative thereof or
comparable terminology regarding future events or conditions. The
forward-looking statements are not historical facts, and are based
upon the Company’s current expectations, beliefs, estimates and
projections, and various assumptions, many of which, by their
nature, are inherently uncertain and beyond its control. There can
be no assurance that management’s expectations, beliefs, estimates
and projections will be achieved and actual results may differ
materially from what is expressed in or indicated by the
forward-looking statements.
Forward-looking statements are subject to significant known and
unknown risks and uncertainties that may cause actual results,
performance or achievements in future periods to differ materially
from those assumed, projected or contemplated in the
forward-looking statements, including, but not limited to, the
following factors: the ongoing global COVID-19 pandemic and related
challenges, risks and uncertainties, including historical and
potential future measures taken by governmental and regulatory
authorities (such as requiring store closures), which have
significantly disrupted the Company’s business, employees,
customers and global supply chain, and for a period of time,
adversely impacted its financial condition (including resulting in
goodwill impairment) and financial performance, and which
disruption and adverse impacts may continue in the future; the
recent and ongoing direct and indirect adverse impacts of the
global COVID-19 pandemic to the global economy and retail industry;
the eventual timing and duration of economic stabilization and
recovery from the COVID-19 pandemic, which depends largely on
future developments; general economic conditions in the United
States and globally, including consumer confidence and spending,
and any changes to current favorable macroeconomic trends of strong
home sales, nesting and de-urbanization (which were enhanced and
accelerated due to COVID-19, and may not continue upon a successful
vaccine rollout in significant numbers that impacts consumer
behavior); the Company’s indebtedness and its ability to increase
future leverage, as well as limitations on future sources of
liquidity, including debt covenant compliance; the Company’s
ability to implement its growth strategy of opening new stores,
which was suspended for fiscal 2021 (with the exception of stores
that were at or near completion) and, while ramping significantly,
will be limited in the near term; the Company’s ability to
effectively obtain, manage and allocate inventory, and satisfy
changing consumer preferences; increasing freight and
transportation costs (including the adverse effects of
international equipment shortages) and increasing commodity prices;
the Company’s reliance on third-party vendors for a significant
portion of its merchandise, including supply chain disruption
matters and international trade regulations (including tariffs)
that have, and may continue to, adversely impact many international
vendors; the loss or disruption to operating the Company’s
distribution network; significant competition in the fragmented
home décor industry, including increasing e-commerce; the
implementation and execution of the Company’s At Home 2.0 and
omnichannel strategies and related investments; natural disasters
and other adverse impacts on regions in the United States where the
Company has significant operations; the Company’s success in
obtaining favorable lease terms and of its sale-leaseback strategy;
the Company’s reliance on the continuing growth and utility of its
loyalty program; the Company ability to attract, develop and retain
employee talent and to manage labor costs; the disproportionate
impact of its seasonal sales activity to its overall results; risks
related to the loss or disruption of the Company’s information
systems and data and its ability to prevent or mitigate breaches of
its information security and the compromise of sensitive and
confidential data; the Company’s ability to comply with privacy and
other laws and regulations, including those associated with
entering new markets; and the significant volatility of the trading
price of the Company’s common stock; the possibility that the
Company may be unable to obtain required stockholder approval or
that other conditions to closing the proposed Merger may not be
satisfied, such that the proposed Merger will not close or that the
closing may be delayed; general economic conditions; the proposed
Merger may involve unexpected costs, liabilities or delays; risks
that the transaction disrupts current plans and operations of the
Company; the outcome of any legal proceedings related to the
proposed Merger; the occurrence of any event, change or other
circumstances that could give rise to the termination of the Merger
Agreement. For more details on these and other potential risks and
uncertainties, please refer to the Proxy Statement, the definitive
proxy statement (when it becomes available) and the other relevant
documents that the Company files with the SEC. You are cautioned
not to place undue reliance on the forward-looking statements
included herein, which speak only as of the date hereof or the date
otherwise specified herein. Except as required by law, the Company
does not undertake any obligation to update or revise any
forward-looking statements for any reason, whether as a result of
new information, future events or otherwise.
HOME-F
View source
version on businesswire.com: https://www.businesswire.com/news/home/20210615006060/en/
Investor Relations: Arvind Bhatia, CFA / 972.265.1299 /
ABhatia@AtHome.com Bethany Johns / 972.265.1326 / BJohns@AtHome.com
Proxy Solicitor: Dan Burch MacKenzie Partners, Inc.
212.929.5500 Media: Carey Marin / 214.914.1157 /
MediaRelations@AtHome.com or Sharon Stern / Adam Pollack / Joseph
Sala Joele Frank, Wilkinson Brimmer Katcher 212.355.4449
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