10
April 2024
Nexxen International
Ltd.
("Nexxen"
or the "Company")
Nexxen Announces Full
Repayment of Outstanding $100 Million Long-Term
Debt
The Company now has $90
million undrawn on its Revolving Credit Facility
Nexxen International Ltd.
(AIM/NASDAQ: NEXN) ("Nexxen" or the "Company"), a global, unified
advertising technology platform with deep expertise in video and
Connected TV ("CTV"), announces that on 9 April 2024, the Company
repaid its outstanding indebtedness under the secured Term Loan A,
and the outstanding amount under the Revolving Credit Facility
(together the "Credit Agreement"), entered on 12 September 2022.
The Company also amended the Credit Agreement to, among other
things, enable the additional $50 million Ordinary Share repurchase
program previously announced on 15 March 2024.
The Company's payment to the Lenders
under the Credit Agreement was approximately $100 million,
which satisfied all of the Company's debt obligations under
the Term A Secured Loan, in the amount of $90 million, and the
previously drawn down amount of approximately $10 million under the
Revolving Credit Facility. The Company did not incur any early
termination penalties as a result of the repayment of
indebtedness. The Company continues to have access to the $90
million Revolving Credit Facility, of which $0 has been drawn as of
the date hereof, following the Company's repayment.
For more information about the
Credit Agreement, investors can refer to Exhibit 4.6 to the
Company's Annual Report on Form 20-F filed with the SEC on March 7,
2023.
For
further information please contact:
Nexxen International Ltd.
Billy Eckert, Vice President of Investor Relations
ir@nexxen.com
Caroline Smith, Vice President of
Communications
csmith@nexxen.com
KCSA
(U.S. Investor Relations)
David Hanover, Investor Relations
nexxenir@kcsa.com
Vigo
Consulting (U.K. Financial PR & Investor
Relations)
Jeremy Garcia / Peter Jacob / Aisling Fitzgerald
Tel: +44 20 7390 0230 or nexxen@vigoconsulting.com
Cavendish Capital Markets Limited
Jonny Franklin-Adams / Charlie Beeson / George Dollemore (Corporate
Finance)
Tim Redfern / Harriet Ward (ECM)
Tel: +44 20 7220 0500
About Nexxen
Nexxen empowers advertisers,
agencies, publishers and broadcasters around the world to utilize
video and Connected TV in the ways that are most meaningful to
them. Comprised of a demand-side platform (DSP), supply-side
platform (SSP), ad server and data management platform (DMP),
Nexxen delivers a flexible and unified technology stack with
advanced and exclusive data at its core. Our robust capabilities
span discovery, planning, activation, measurement and optimization
- available individually or in combination - all designed to enable
our partners to reach their goals, no matter how far-reaching or
hyper niche they may be. For more information, visit
www.nexxen.com.
Nexxen is headquartered in Israel
and maintains offices throughout the United States, Canada, Europe
and Asia-Pacific, and is traded on the London Stock Exchange (AIM:
NEXN) and NASDAQ (NEXN).
Forward Looking
Statements
This press release contains
forward-looking statements, including forward-looking statements
within the meaning of Section 27A of the United States Securities
Act of 1933, as amended, and Section 21E of the United States
Securities and Exchange Act of 1934, as amended. Forward-looking
statements are identified by words such as "anticipates,"
"believes," "expects," "intends," "may," "can," "will,"
"estimates," and other similar expressions. However, these words
are not the only way Nexxen identifies forward-looking statements.
All statements contained in this press release that do not relate
to matters of historical fact should be considered forward-looking
statements, including without limitation statements regarding the
Company's future access to its $90 million Revolving Credit
Facility. These statements are neither promises nor guarantees but
involve known and unknown risks, uncertainties and other important
factors that may cause Nexxen's actual results, performance or
achievements to be materially different from its expectations
expressed or implied by the forward-looking statements, including,
but not limited to, the following: negative global economic
conditions; global conflicts and war, including the current
terrorist attacks by Hamas, and the war and hostilities between
Israel and Hamas and Israel and Hezbollah, and how those conditions
may adversely impact Nexxen's availability to draw upon its
Revolving Credit Facility, and its business, customers, and the
markets in which Nexxen competes. Nexxen cautions you not to place
undue reliance on these forward-looking statements. For a more
detailed discussion of these factors, and other factors that could
cause actual results to vary materially, interested parties should
review the risk factors listed in the Company's most recent Annual
Report on Form 20-F, filed with the U.S. Securities and Exchange
Commission (www.sec.gov) on March 6, 2024. Any forward-looking
statements made by Nexxen in this press release speak only as of
the date of this press release, and Nexxen does not intend to
update these forward-looking statements after the date of this
press release, except as required by law.
Nexxen, and the Nexxen logo are
trademarks of Nexxen International Ltd. in the United States and
other countries. All other trademarks are the property of their
respective owners. The use of the word "partner" or "partnership"
in this press release does not mean a legal partner or legal
partnership.