LINCOLNSHIRE, Ill.,
Sept. 25, 2014 /PRNewswire/
-- Zebra Technologies Corporation (NASDAQ: ZBRA) today
announced that it intends to offer, subject to market and other
conditions, up to $1.25 billion
in aggregate principal amount of new senior unsecured notes due
2022 (the "Notes") in a private offering.
Zebra intends to use the net proceeds from the Notes offering,
together with cash on hand and proceeds from Zebra's previously
announced $2 billion senior secured term loan, to fund the
$3.45 billion cash acquisition
of the Enterprise business of Motorola Solutions, Inc. (NYSE: MSI),
as well as to pay related transaction fees and expenses. Zebra
expects that the proceeds from the private offering of the Notes
will be placed into escrow until the closing of the acquisition.
The Notes will be senior unsecured obligations of Zebra and will be
guaranteed by certain of Zebra's domestic subsidiaries following
the closing of the acquisition.
The Notes and related guarantees will not be registered under
the Securities Act of 1933, as amended ("Securities Act"), or the
securities laws of any other jurisdiction, and will not be offered
or sold in the United States
absent registration or an applicable exemption from the
registration requirements. This offering will be made only to
qualified institutional buyers in accordance with Rule 144A under
the Securities Act and to non-U.S. persons in accordance with
Regulation S under the Securities Act.
This press release is for informational purposes only and shall
not constitute an offer to sell or the solicitation of an offer to
buy the Notes and related guarantees. Any offer of the Notes and
related guarantees is not being made to any person in any
jurisdiction in which the offer, solicitation or sale is
unlawful.
Forward-looking Statements
This press release contains forward-looking statements within the
meaning of federal securities laws. Statements related to, among
other things, the consummation of the offering of the Notes and
related guarantees, the escrow of the proceeds from the proposed
offering, the use of proceeds from the proposed offering and
potential changes in market conditions constitute forward-looking
statements. For a description of factors that may cause Zebra's
actual results, performance or expectations to differ from any
forward-looking statements, please review the information under the
heading "Risk Factors" included in Item 1A of Zebra's 2013 Annual
Report on Form 10-K and other documents of Zebra's on file
with or furnished to the Securities and Exchange Commission. Any
forward-looking statements made in this press release are qualified
by these cautionary statements, and there can be no assurance that
the actual results or developments anticipated by Zebra will be
realized or, even if substantially realized, that they will have
the expected consequences to, or effects on, Zebra or its business
or operations. Except as required by law, Zebra undertakes no
obligation to update publicly or revise any forward-looking
statement, whether as a result of new information, future
developments or otherwise. We caution you that actual outcomes and
results may differ materially from what is expressed, implied or
forecasted by Zebra's forward-looking statements.
Contact:
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Investors:
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Media:
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Douglas A. Fox,
CFA
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Robb
Kristopher
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Vice President,
Investor
Relations
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Director, Corporate
Communications
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and
Treasurer
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and Public
Relations
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+ 1 847 793 6735
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+ 1 847 793 5514
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dfox@zebra.com
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rkristopher@zebra.com
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SOURCE Zebra Technologies Corporation