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Zynga Inc. Announces Pricing of Offering of $600 Million of Convertible Senior Notes

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SAN FRANCISCO–(BUSINESS WIRE)–Zynga Inc. (Nasdaq: ZNGA), a global leader in interactive entertainment,
today announced the pricing of $600 million aggregate principal amount
of 0.25% convertible senior notes due 2024 (the “notes”) in a private
placement to qualified institutional buyers pursuant to Rule 144A under
the Securities Act of 1933, as amended (the “Securities Act”). Zynga
also granted the initial purchasers of the notes a 13-day option to
purchase up to an additional $90 million aggregate principal amount of
the notes. The sale of the notes is expected to close on June 14, 2019,
subject to customary closing conditions.

The notes will be senior unsecured obligations of Zynga and will accrue
interest payable semiannually in arrears on June 1 and December 1 of
each year, beginning on December 1, 2019, at a rate of 0.25% per
year. The notes will mature on June 1, 2024, unless earlier converted,
repurchased or redeemed. The initial conversion rate will be 120.3695
shares of Zynga’s Class A common stock (“common stock”)
per $1,000 principal amount of notes (equivalent to an initial
conversion price of approximately $8.31 per share of common stock). The
initial conversion price of the notes represents a premium of
approximately 32.5% over the last reported sale price of Zynga’s common
stock on the Nasdaq Global Select Market on June 11, 2019. The notes
will be convertible into cash, shares of Zynga’s common stock or a
combination of cash and shares of Zynga’s common stock, at Zynga’s
election.

Zynga may redeem the notes, at its option, on or after June 5, 2022, if
the last reported sale price of Zynga’s common stock has been at least
130% of the conversion price then in effect for at least 20 trading days
(whether or not consecutive) during any 30 consecutive trading-day
period (including the last trading day of such period) ending on and
including the trading day immediately preceding the date on which Zynga
provides notice of redemption at a redemption price equal to 100% of the
principal amount of the notes to be redeemed, plus accrued and unpaid
interest to, but excluding, the redemption date.

If a “fundamental change” (as defined in the indenture governing the
notes) occurs at any time prior to the maturity date, holders of the
notes may require Zynga to repurchase for cash all or any portion of
their notes at a repurchase price equal to 100% of the principal amount
of the notes to be repurchased, plus accrued and unpaid interest. In
addition, following certain corporate events or if Zynga issues a notice
of redemption, Zynga will, under certain circumstances, increase the
conversion rate for holders who convert their notes in connection with
such corporate event or notice of redemption.

Zynga estimates that the net proceeds from the offering will be
approximately $584.5 million (or $672.3 million if the initial
purchasers exercise their option to purchase additional notes in full),
after deducting the initial purchasers’ discounts and estimated offering
expenses payable by Zynga. Zynga intends to use a portion of the net
proceeds to pay the cost of the capped call transactions described
below. Zynga intends to use the remainder of the net proceeds for
working capital and other general corporate purposes, which may include
capital expenditures, the repayment of debt, and potential acquisitions
and future transactions. However, it has not designated any specific
uses and has no current agreements with respect to any material
acquisition or strategic transaction.

In connection with the pricing of the notes, Zynga entered into capped
call transactions with one or more of the initial purchasers and/or
their respective affiliates (the “option counterparties”). The capped
call transactions are expected generally to reduce potential dilution to
Zynga’s common stock upon any conversion of notes and/or offset any cash
payments Zynga is required to make in excess of the principal amount of
converted notes, as the case may be, with such reduction and/or offset
subject to a cap initially equal to $12.54 per share (which represents a
premium of 100% over the last reported sale price of Zynga’s common
stock on the Nasdaq Global Select Market on June 11, 2019), subject to
certain adjustments under the terms of the capped call transactions. If
the initial purchasers exercise their option to purchase additional
notes, Zynga expects to enter into additional capped call transactions
with the option counterparties.

Zynga expects that, in connection with establishing their initial hedges
of the capped call transactions, the option counterparties or their
respective affiliates may enter into various derivative transactions
with respect to Zynga’s common stock and/or purchase shares of Zynga’s
common stock concurrently with or shortly after the pricing of the
notes. This activity could increase (or reduce the size of any decrease
in) the market price of Zynga’s common stock or the notes at that time.

In addition, Zynga expects that the option counterparties or their
respective affiliates may modify their hedge positions by entering into
or unwinding various derivatives with respect to Zynga’s common stock
and/or purchasing or selling Zynga’s common stock or other securities of
Zynga in secondary market transactions following the pricing of the
notes and prior to the maturity of the notes (and are likely to do so
during any observation period related to a conversion of notes). This
activity could also cause or prevent an increase or a decrease in the
market price of Zynga’s common stock or the notes, and to the extent the
activity occurs during any observation period related to a conversion of
notes, this could affect the value of the consideration that a
noteholder will receive upon conversion of its notes.

Neither the notes, nor any shares of Zynga’s common stock potentially
issuable upon conversion of the notes, have been, nor will be,
registered under the Securities Act or any state securities laws and,
unless so registered, such securities may not be offered or sold in the
United States absent registration or an applicable exemption from, or in
a transaction not subject to, the registration requirements of the
Securities Act and other applicable securities laws.

This press release is neither an offer to sell nor a solicitation of an
offer to buy any securities, nor shall it constitute an offer,
solicitation or sale of the securities in any jurisdiction in which such
offer, solicitation or sale would be unlawful prior to the registration
or qualification under the securities laws of any such jurisdiction.

Contacts

Investor Relations:
Rebecca Lau
Investors@zynga.com

Press:
Sarah Ross
Sarah@zynga.com

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Business Wire

2019 Super Penguin Celebrity Game Sees a Successful Completion

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Ginóbili and Parker Lead the Highest-standard Game

SHANGHAI–(BUSINESS WIRE)–On September 21st, 2019 (Beijing time), the 2019 Super Penguin Celebrity Game completed successfully at the Shanghai Oriental Sports Center. NBA legendaries Manu Ginóbili and Tony Parker joined hands with Li Chen, Zheng Kai, Xiao Jingteng and other celebrities, and presented a cross-border basketball game for the audience. The game ended at 45-56, team Red Force took the prize from team Blue Energy. YeZhou won the MVP with his excellent performance.

ESPN live broadcasted the game in various countries and regions including Australia, Brazil, Japan, Mexico, New Zealand, Singapore, and the United States. It has spread the fascination of the game to every continent except the Antarctic.

The Super Penguin Celebrity Game is a celebrity basketball event that brings together professional basketball players and hottest entertainment celebrities. Initiated by Tencent Sports (SEHK: 700) in 2016, the Super Penguin Celebrity Game has been successfully held for four consecutive years, attracting more than 160 basketball players and entertainment celebrities, including NBA legends such as Tracy McGrady, Allen Iverson, Paul Pierce, Ray Allen and Chris Bosh, and entertainment stars like Kris Wu, Bai Jingting, Xiao Jingteng.

In fact, the Super Penguin Celebrity Game is composed of a basketball reality show and a basketball game. The basketball reality show involves 32 entertainment stars, which are divided into 16 teams. With the professional guidance from NBA legend Manu Ginóbili and world-renowned trainer Ganon Baker, the players boosted their egos through the tough training and intense competitions lasting 8 weeks. The show has attracted more than 30 million individual users, among who female viewers account for more than 40%, making the show a pioneer in breaking the boundary between sports and entertainment.

Through 4 years of exploration, the Super Penguin Celebrity Game has developed from a single event to a matrix of contents comprising variety shows and sports events. It has become an exemplary IP integrating sports and entertainment, while it also has built the presence of basketball among the mass public.

Contacts

David Andrew

davidandrew@foxmail.com

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Business Wire

IRI to Discuss Advertising Campaign Data Analytics Strategies in Three Sessions at Advertising Week New York

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–(BUSINESS WIRE)–IRI:

WHO:

At the “ The State of AI” session, presenters will be:

 

Nishat Mehta, President, Media Center of Excellence, IRI®

 

Jocelyn Lee, Head of AI, Heat

Nate Rackiewicz, Chairman and Co-Founder, METEOR NOW

 

Sara Robertson, Global Vice President, Product and Engineering, Xaxis

 

At the “So Much Data…So Little Time” session, presenters will be:

JP Beauchamp, Senior Vice President, Media Center of Excellence, IRI

Christine Frohlich, Vice President Product Marketing, Experian

 

Duncan McCall, Founder and Chief Executive Officer, PlaceIQ

 

Elliott Easterling, Co-Founder and Chief Executive Officer, TrueData

 

 

At the “Measurement on Demand” session, presenters will be:

Vijoy Gopalakrishnan, Senior Vice President, Media Center of Excellence, IRI

Abishake Subramanian, Director, Digital Advertising, Media Sales and Strategy, Sam’s Club

Adam Gitlin, Head of Data, Annalect

Lisa Hill, Brand Manager, Starbucks At Home Coffee/Personalized Marketing, Nestlé Coffee Partners

 

Maciej Szczepaniak, Global Brand Measurement, Lead Google

 

 

WHAT:

On September 23, IRI’s Nishat Mehta will participate on a panel with the Heat’s Jocelyn Lee, METEOR NOW’s Nate Rackiewicz and Xaxis’ Sara Robertson to discuss the use of AI in technology and measurement mechanisms, the effect on creative and talent resources and risks in brand safety and fraud, during their session titled, “The State of AI.

 

Later that day, IRI’s JP Beauchamp will serve on a panel with Experian’s Christine Frohlich, PlaceIQ’s Duncan McCall and TrueData’s Elliott Easterling that will cover the endless amounts of data available to brands. The panel will provide advice to brand managers on top methods to integrating online and offline data, executing omnichannel campaigns, reducing media waste through better targeting strategies as well as measuring campaigns effectively, during their session titled, “So Much Data…So Little Time.

 

 

On September 26, IRI’s Vijoy Gopalakrishnan will take the stage with Sam’s Club’s Abishake Subramanian, Annalect’s Adam Gitlin, Nestlé Coffee Partners’ Lisa Hill and Google’s Maciej Szczepaniak to discuss the longstanding challenge faced by marketers — on demand advertising effectiveness measurement. The panel will review tools available to marketers such as in-flight optimization, better and less expensive measurement techniques and connecting advertising effectiveness to bottom of the funnel metrics, during their session titled, “Measurement on Demand.

 

WHY:

 

 

Brands are faced with an immense amount of data, and it is now the job of marketers to decipher the data to find the best product lines, advertising campaigns or social media influencers that most align with that company. In today’s data-focused world, brands must be able to utilize artificial intelligence and machine learning techniques to interpret vast data sets in order to create quality products and target the right customers.

 

WHEN:

The State of AI

 

Monday, September 23, 2019

9:15 a.m. – 10:00 a.m. ET

 

So Much Data…So Little Time

 

Monday, September 23, 2019

10:45 a.m. – 11:30 a.m. ET

 

Measurement on Demand

 

Thursday, September 26, 2019

4:30 p.m. – 5:15 p.m. ET

 

WHERE:

Advertising Week New York

AMC Lincoln Square Campus

1998 Broadway

 

New York City, NY 10023

About IRI

IRI is a leading provider of big data, predictive analytics and forward-looking insights that help CPG, OTC health care organizations, retailers, financial services and media companies grow their businesses. A confluence of major external events — a change in consumer buying habits, big data coming into its own, advanced analytics and personalized consumer activation — is leading to a seismic shift in drivers of success in all industries. With the largest repository of purchase, media, social, causal and loyalty data, all integrated on an on-demand, cloud-based technology platform, IRI is empowering the personalization revolution, helping to guide its more than 5,000 clients around the world in their quests to remain relentlessly relevant, capture market share, connect with consumers, collaborate with key constituents and deliver market-leading growth. For more information, visit www.iriworldwide.com.

Contacts

IRI:

Victoria Guimarin

UPRAISE Marketing + PR for IRI

Email: iri@upraisepr.com
Phone: +1 415.397.7600

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Business Wire

Spirit of Wipro Run Brings Together Participants from 110 Cities Across 34 Nations

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EAST BRUNSWICK, N.J. & BANGALORE, India–(BUSINESS WIRE)–#FurtherTogether–Wipro Limited (NYSE: WIT) (BSE: 507685) (NSE: WIPRO), a leading global information technology, consulting and business process services company, today organized the 14th edition of the ‘Spirit of Wipro’ (SOW) Run in 110 cities across 34 countries.

The theme for this year’s Run was “#FurtherTogether”, which celebrated the spirit of camaraderie and several thousands of Wipro employees, their friends and families, alumni, customers, partners and suppliers came together for the event.

The SOW Run reinforces the core values of the organization-

  • Be passionate about clients’ success,
  • Treat each person with respect,
  • Be global and responsible and
  • Unyielding integrity in everything we do.

This annual global event has people stepping forward together as a community to bring about progressive change in the society.

Commenting on the run, Abidali Z Neemuchwala, Chief Executive Officer and Managing Director, Wipro Limited said, “The SOW Run is our annual, global tradition. This year’s theme of ‘FurtherTogether’ is aimed to inspire everyone to go the extra mile and is a reminder that anyone can achieve anything if they put their mind to it. We celebrate the collective spirit of Wiproites across the world on this special day and appreciate their contributions towards social causes globally.”

Saurabh Govil, President and Chief Human Resources Officer, Wipro Limited said, “The SOW Run celebrates the people of Wipro. Over the years, this annual run has become one of the largest employee engagement events in the world. Every year the run brings together our employees, their families and friends, clients, partners and suppliers. It is a great testament of what the spirit of togetherness and genuine collaboration can achieve.”

The SOW Run 2019 was organized in New Jersey, Portland, Mountain View, Atlanta, Tampa, Boston, Austin, Dallas, Reading, Perth, Melbourne, Sydney, Edmonton, Ottawa, Dublin, Yokohama, Kuala Lumpur, Curitiba, Guadalajara, Mexico City, Cebu, Manila, Doha, Dubai, Dalian, Singapore, Johannesburg, and Zurich among other cities.

In India, the SOW Run 2019 was held in 15 cities, including Bangalore, Delhi, Mumbai, Chennai, Pune and Kolkata. The event saw an officially timed 21K or half marathon in Bangalore, Chennai, Pune and Hyderabad. This apart, timed 10K was held in Bangalore, Pune, Chennai, Delhi, Mumbai and Hyderabad.

Each year the proceeds from the SOW Run are used towards social causes identified by the locations, globally. The funds raised by the runners globally are matched 100% by Wipro Limited and are utilized by Wipro Cares, the community initiatives arm of Wipro Limited. In the United States, where Wipro has a significant presence, the funds will be used to support educational programmes in underserved communities. In India, the 2019 edition of the Run is supporting the educational needs of underprivileged and disadvantaged children.

About Wipro Limited

Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO) is a leading global information technology, consulting and business process services company. We harness the power of cognitive computing, hyper-automation, robotics, cloud, analytics and emerging technologies to help our clients adapt to the digital world and make them successful. A company recognized globally for its comprehensive portfolio of services, strong commitment to sustainability and good corporate citizenship, we have over 175,000 dedicated employees serving clients across six continents. Together, we discover ideas and connect the dots to build a better and a bold new future.

Forward-looking and Cautionary Statements

Certain statements in this release concerning our future growth prospects are forward-looking statements, which involve a number of risks, and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding fluctuations in our earnings, revenue and profits, our ability to generate and manage growth, intense competition in IT services, our ability to maintain our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which we make strategic investments, withdrawal of fiscal governmental incentives, political instability, war, legal restrictions on raising capital or acquiring companies outside India, unauthorized use of our intellectual property, and general economic conditions affecting our business and industry. Additional risks that could affect our future operating results are more fully described in our filings with the United States Securities and Exchange Commission. These filings are available at www.sec.gov. We may, from time to time, make additional written and oral forward-looking statements, including statements contained in the company’s filings with the Securities and Exchange Commission and our reports to shareholders. We do not undertake to update any forward-looking statement that may be made from time to time by us or on our behalf.

Contacts

Wipro Media Contact:
Shraboni Banerjee

Wipro Limited

shraboni.banerjee@wipro.com

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