LogMeIn, Inc. And Logan Merger Sub, Inc. Announce $750 Million Senior Secured Notes Offering
BOSTON, Aug. 10, 2020 (GLOBE NEWSWIRE) -- LogMeIn, Inc. (“LogMeIn” or the “Company”) and Logan Merger Sub, Inc. (the “Issuer”), controlled by affiliates of Francisco Partners, L.P. (“Francisco
Partners), today announced that the Issuer intends to privately offer, subject to market conditions, $750 million in aggregate principal amount of its Senior Secured Notes due 2027 (the “Notes”).
The net proceeds from the offering of the Notes, together with other financing sources, will be used to fund the acquisition (the “Acquisition”) of LogMeIn by affiliates of Francisco Partners and
Evergreen Coast Capital Corp., the private equity affiliate of Elliott Management Corporation (“Evergreen”), and to pay certain related fees, commissions and expenses. LogMeIn will assume all of
the obligations of the Issuer under the Notes upon the consummation of the Acquisition. The offering and the actual terms of the Notes, including the interest rate, will depend on market and other
The Notes will be offered to persons reasonably believed to be qualified institutional buyers in accordance with Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”), and to non-U.S. persons outside the United States pursuant to Regulation S under the Securities Act.
The Notes have not been and will not be registered under the Securities Act or any state or other jurisdiction’s securities laws. Accordingly, the Notes may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements under the Securities Act and any applicable state or other jurisdiction’s securities laws.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities nor shall there be any sale of any securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
LogMeIn, Inc.’s (Nasdaq: LOGM) category-defining products unlock the potential of the modern workforce by making it possible for millions of people and businesses around the globe to do their best work, whenever, however, and most importantly, wherever. A pioneer in remote work technology and a driving force behind today’s work-from-anywhere movement, LogMeIn has become one of the world’s largest SaaS companies with tens of millions of active users, more than 3,500 global employees, over $1.2 billion in annual revenue and more than 2 million customers worldwide who use its software as an essential part of their daily lives. The company is headquartered in Boston, Massachusetts with additional locations in North America, South America, Europe, Asia and Australia.