RESTON, Va.--(BUSINESS WIRE)--
VeriSign, Inc. (NASDAQ: VRSN) ("Verisign") today announced a proposed
offering of $450 million aggregate principal amount of senior unsecured
notes due 2027 (the "Notes").
The timing, size and terms of the Notes are subject to market conditions
and other factors. Verisign intends to use the proceeds from the
offering for general corporate purposes, including, but not limited to,
the repurchase of shares under its share repurchase program.
The Notes will be offered and sold in a private placement to qualified
institutional buyers pursuant to Rule 144A under the Securities Act of
1933, as amended (the "Securities Act"), and to non-U.S. persons in
transactions outside the United States pursuant to Regulation S under
the Securities Act.
The Notes have not been registered under the Securities Act or any state
securities laws and may not be offered or sold in the United States or
to, or for the benefit of, U.S. persons absent registration under, or an
applicable exemption from, the registration requirements of the
Securities Act and applicable state securities laws.
This announcement does not constitute an offer to sell or a solicitation
of an offer to buy the Notes or any other security and shall not
constitute an offer, solicitation or sale in any state or jurisdiction
in which, or to any persons to whom, such an offer, solicitation or sale
would be unlawful. Any offers of the Notes will be made only by means of
a private offering memorandum.
About Verisign
Verisign, a global leader in domain names and internet security, enables
internet navigation for many of the world's most recognized domain names
and provides protection for websites and enterprises around the world.
Verisign ensures the security, stability and resiliency of key internet
infrastructure and services, including the .com and .net domains and two
of the internet's root servers, as well as performs the root zone
maintainer function for the core of the internet's Domain Name System
(DNS). Verisign's Security Services include Distributed Denial of
Service Protection and Managed DNS.
VRSNF
Statements in this announcement other than historical data and
information constitute forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933 as amended and Section 21E of
the Securities Exchange Act of 1934 as amended. These statements involve
risks and uncertainties that could cause our actual results to differ
materially from those stated or implied by such forward-looking
statements. The potential risks and uncertainties include, among others,
whether the U.S. Department of Commerce will approve any exercise by us
of our right to increase the price per .com domain name, under certain
circumstances, the uncertainty of whether we will be able to demonstrate
to the U.S. Department of Commerce that market conditions warrant
removal of the pricing restrictions on .com domain names and the
uncertainty of whether we will experience other negative changes to our
pricing terms; the failure to renew key agreements on similar terms, or
at all; new or existing governmental laws and regulations in the U.S. or
other applicable foreign jurisdictions; system interruptions, security
breaches, attacks on the internet by hackers, viruses, or intentional
acts of vandalism; the uncertainty of the impact of changes to the
multi-stakeholder model of internet governance; changes in internet
practices and behavior and the adoption of substitute technologies; the
success or failure of the evolution of our markets; the operational and
other risks from the introduction of new gTLDs by ICANN and our
provision of back-end registry services; the highly competitive business
environment in which we operate; whether we can maintain strong
relationships with registrars and their resellers to maintain their
marketing focus on our products and services; challenging global
economic conditions; economic, legal and political risk associated with
our international operations; our ability to protect and enforce our
rights to our intellectual property and ensure that we do not infringe
on others' intellectual property; the outcome of legal or other
challenges resulting from our activities or the activities of registrars
or registrants, or litigation generally; the impact of our new strategic
initiatives, including our IDN gTLDs; whether we can retain and motivate
our senior management and key employees; the impact of unfavorable tax
rules and regulations; and our ability to continue to reinvest offshore
our foreign earnings. More information about potential factors that
could affect our business and financial results is included in our
filings with the SEC, including in our Annual Report on Form 10-K for
the year ended Dec. 31, 2016, Quarterly Reports on Form 10-Q and Current
Reports on Form 8-K. Verisign undertakes no obligation to update any of
the forward-looking statements after the date of this announcement.
©2017 VeriSign, Inc. All rights reserved. VERISIGN, the VERISIGN logo,
and other trademarks, service marks, and designs are registered or
unregistered trademarks of VeriSign, Inc. and its subsidiaries in the
United States and in foreign countries. All other trademarks are
property of their respective owners.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170629005611/en/
VeriSign, Inc.
Investor Relations:
David Atchley, 703-948-4643
datchley@verisign.com
or
Media
Relations:
Deana Alvy, 703-948-4179
dalvy@verisign.com
Source: VeriSign, Inc.
News Provided by Acquire Media