THQ Inc. (NASDAQ: THQI) today announced its intention to commence an
offering, subject to market and other conditions, of $90 million
aggregate principal amount of convertible senior notes. The notes would
be due in 2014 and are to be offered and sold to qualified institutional
buyers pursuant to Rule 144A under the Securities Act of 1933, as
amended. The interest rate, conversion rate, and other terms of the
notes are to be determined by negotiations among THQ and the initial
purchaser of the notes. THQ has also granted to the initial purchaser of
the notes the right to purchase up to an additional $10 million
aggregate principal amount of notes to cover overallotments.
THQ intends to use all of the net proceeds of this offering for general
corporate purposes.
This announcement is neither an offer to sell nor a solicitation of an
offer to buy any of these securities and shall not constitute an offer,
solicitation, or sale in any jurisdiction in which such offer,
solicitation, or sale is unlawful.
The notes have not been, and will not be, registered under the
Securities Act of 1933, as amended, or any state securities laws and may
not be offered or sold in the United States absent registration or an
applicable exemption from registration requirements.
About THQ
THQ Inc. (NASDAQ: THQI) is a leading worldwide developer and publisher
of interactive entertainment software. The company develops its products
for all popular game systems, personal computers and wireless devices.
Headquartered in Los Angeles County, California, THQ sells product
through its global network of offices located throughout North America,
Europe and Asia Pacific. More information about THQ and its products may
be found at www.thq.com
and www.thqwireless.com.
THQ, THQ Wireless, and their respective logos are trademarks and/or
registered trademarks of THQ Inc.
This press release contains statements that are forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995. Such statements include, but are not limited to
whether or not THQ will offer the notes or consummate the offering, the
anticipated terms of the notes and the offering, and the anticipated use
of the proceeds of the offering. These forward-looking statements
are based on current expectations, estimates and projections about the
business of THQ Inc. and its subsidiaries (collectively referred to as
“THQ”) and are based upon management’s beliefs and certain assumptions
made by management. Such forward-looking statements are subject
to risks and uncertainties that could cause actual results to differ
materially from those expressed or implied by such forward-looking
statements, including, but not limited to, economic, competitive and
technological factors affecting the operations, markets, products,
services and pricing of THQ. Unless otherwise required by law,
THQ disclaims any obligation to update its view on any such risks or
uncertainties or to revise or publicly release the results of any
revision to these forward-looking statements. Readers should
carefully review the risk factors and the information that could
materially affect THQ’s financial results, described in other documents
that THQ files from time to time with the Securities and Exchange
Commission, including its Quarterly Reports on Form 10-Q and its Annual
Report on Form 10-K for the fiscal period ended March 31, 2009, and
particularly the discussion of risk factors that may affect results of
operations set forth therein. Readers are cautioned not to place
undue reliance on these forward-looking statements, which speak only as
of the date of this press release.
THQ/Investor Relations
Julie MacMedan
818/871-5125
