FARMINGTON HILLS, Mich., Aug. 11, 2016 /PRNewswire/ -- Innovation Ventures, LLC (the "Company"), the leading producer and distributor of 5-hour ENERGY® shots, announced that it has decided not to pursue the previously announced $525.0 million senior secured credit facility; offering of a series of unsecured notes maturing in 2021; and the sale transaction with Renew Group Private Limited (collectively, the "Transactions"). The parties to the Transactions determined that pursuing the Transactions is not in the best interest of the Company and its equityholders at this time. The Company continues to evaluate plans with respect to the refinancing of its indebtedness.
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
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SOURCE Innovation Ventures, LLC