Party City Announces Closing of Its Initial Public Offering

ELMSFORD, N.Y., April 21, 2015 /PRNewswire/ -- Party City Holdco Inc. ("the Company" or "Party City") today announced the closing of its initial public offering of 25,156,250 shares of common stock at $17.00 per share. The number of shares issued at closing included the exercise in full of the underwriters' option to purchase 3,281,250 additional shares. The Company received approximately $398.2 million in proceeds from the offering, net of underwriting fees and estimated offering expenses. The Company intends to use the net proceeds of the offering primarily to repay outstanding indebtedness, including all of its senior PIK toggle notes which mature on August 15, 2019.

Goldman, Sachs & Co., BofA Merrill Lynch, Credit Suisse and Morgan Stanley acted as lead book-running managers and representatives of the underwriters in the offering.  Barclays, Deutsche Bank Securities and J.P. Morgan acted as book-running managers for the offering.  William Blair, Stephens Inc. and Telsey Advisory Group acted as co-managers for the offering.

The offering of these securities was made only by means of a prospectus, a copy of which may be obtained from Goldman, Sachs & Co., Attention: Prospectus Department, 200 West Street, New York, NY 10282, by calling toll-free 1-866-471-2526 or by emailing [email protected]; from BofA Merrill Lynch, 222 Broadway, New York, NY 10038, Attention: Prospectus Department or by emailing [email protected]; from Credit Suisse, Attention: Prospectus Department, One Madison Avenue, New York, NY 10010, by calling toll-free 1-800-221-1037 or by emailing [email protected]; or from Morgan Stanley,  Attention: Prospectus Department, 180 Varick Street, 2^nd Floor, New York, NY 10014.

The registration statement relating to these securities has been declared effective by the Securities and Exchange Commission. This release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these 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 state or jurisdiction.

About Party City

Party City Holdco Inc. is the leading party goods retailer in North America and the largest vertically integrated supplier of decorated party goods globally.  The Company is a popular one-stop shopping destination for party supplies, balloons, and costumes.  In addition to being a great retail brand, Party City Holdco Inc. is a global, world-class organization that combines state-of-the-art manufacturing and sourcing operations, and sophisticated wholesale operations with a multi-channel retailing strategy that includes the Party City brick and mortar and e-commerce retail operations.  The Company is the leading player in its category, vertically integrated and unique in its breadth and depth.  Party City Holdco Inc. designs, manufactures, sources and distributes party goods, including paper and plastic tableware, metallic and latex balloons, Halloween and other costumes, accessories, novelties, gifts and stationery throughout the world. The Company's retail operations include over 900 specialty retail party supply stores in the United States and Canada, operating under the names Party City and Halloween City, and e-commerce websites, principally through the domain name PartyCity.com. The Company also franchises both individual stores and franchise areas throughout the United States and Puerto Rico, principally under the name Party City.

Forward-Looking Statements

The information in this release contains forward-looking information that involves substantial risks and uncertainties regarding the proposed initial public offering by Party City Holdco Inc. Such risks and uncertainties include, among other things, the possibility that the initial public offering will not be consummated, including as a result of regulatory, market or other factors, or that any reduction of indebtedness will occur. Party City Holdco Inc. assumes no obligation to update forward-looking statements contained in this release as the result of new information or future events or developments.

SOURCE Party City Holdco Inc.