FARMINGTON HILLS, Mich., Aug. 11, 2016 /PRNewswire/ -- Innovation Ventures, LLC (the "Company"), the leading producer of 5-hour ENERGY® shots, announced that it has terminated its previously announced cash tender offer and consent solicitation (the "Tender Offer and Consent Solicitation") with respect to all of the outstanding 9.50% Senior Secured Notes due 2019 of the Company and its wholly-owned subsidiary, Innovation Ventures Finance Corp. (the "Notes"). The Tender Offer and Consent Solicitation was made pursuant to an Offer to Purchase and Consent Solicitation Statement and a related Consent and Letter of Transmittal, each dated August 4, 2016 (the "Tender Offer Documents").
Any Notes that have been tendered pursuant to the Tender Offer and Consent Solicitation will be promptly returned to holders.
The Company terminated the Tender Offer and Consent Solicitation because it has determined not to pursue the Financing Transaction (as defined and contemplated in the Tender Offer Documents).
Cautionary Note Regarding Forward-Looking Statements
This press release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The Company has tried, whenever possible, to identify these forward-looking statements using words such as "anticipates," "believes," "estimates," "expects," "plans," "intends" and similar expressions. These statements reflect the Company's current beliefs and are based upon information currently available to it. Accordingly, such forward-looking statements involve known and unknown risks, uncertainties and other factors which could cause the Company's actual results, performance or achievements to differ materially from those expressed in, or implied by, such statements.
All information set forth in this press release is as of August 10, 2016. The Company does not intend, and undertakes no duty, to update this information to reflect future events or circumstances.
Contact: Investor Relations Fax #: (248) 987-7934
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/innovation-ventures-announces-termination-of-debt-tender-offer-300312415.html
SOURCE Innovation Ventures, LLC