JAKKS Pacific, Inc. (NASDAQ: JAKK) (the "Company") today announced the
final results of its self-tender offer, which expired at midnight, New
York City time, on June 27, 2012.
Based on the final count by the depositary for the self-tender offer, a
total of 20,710,940 shares of common stock were validly tendered. The
Company has accepted for payment approximately 17.3% of the shares
tendered by each tendering stockholder, after giving effect to the
purchase of all shares validly tendered by odd lot holders. As such, the
Company has accepted for payment an aggregate of 4,000,000 shares at a
purchase price of $20.00 per share, for a total purchase price of
$80,000,000, excluding fees and expenses related to the self-tender
offer. The 4,000,000 shares the Company has accepted for payment in the
self-tender offer represent approximately 15.4% of the Company’s shares
outstanding as of May 24, 2012.
BofA Merrill Lynch served as dealer manager, Innisfree M&A Incorporated
served as information agent and Computershare Trust Company, N.A. served
as depositary for the self-tender offer.
About JAKKS Pacific, Inc.
JAKKS Pacific, Inc. (NASDAQ: JAKK) is a leading designer and marketer of
toys and consumer products with a wide range of products that feature
popular brands and children's toy licenses. JAKKS’ diverse portfolio
includes Action Figures, Electronics, Dolls, Dress-Up, Role Play,
Halloween Costumes, Kids Furniture, Vehicles, Plush, Art Activity Kits,
Seasonal Products, Infant/Pre-School, Construction Toys, Ride-On
Vehicles, Wagons, Inflatable Environments and Tents, and Pet Toys sold
under various proprietary brands including JAKKS Pacific®, Creative
Designs International™, Road Champs®, Funnoodle®, JAKKS Pets™, Plug It
In & Play TV Games™, Kids Only!™, Tollytots®, Disguise® and Moose
Mountain®. JAKKS is an award-winning licensee of several hundred
nationally and internationally known trademarks including Nickelodeon®,
Warner Bros.®, Ultimate Fighting Championship®, Hello Kitty®, Graco®,
Cabbage Patch Kids® and Pokémon®. JAKKS’ Monsuno™ toy line is
based on the new Monsuno™ animated television series.
This press release may contain "forward-looking statements" that are
based on current expectations, estimates and projections about JAKKS
Pacific's business based partly on assumptions made by its management.
These statements are not guarantees of future performance and involve
risks, uncertainties and assumptions that are difficult to predict.
Therefore, actual outcomes and results may differ materially from what
is expressed or forecasted in such statements due to numerous factors,
including, but not limited to, those described above, changes in demand
for JAKKS' products, product mix, the timing of customer orders and
deliveries, the impact of competitive products and pricing, and
difficulties with integrating acquired businesses.
Additional risks that may affect the Company's future performance are
detailed in the Company's filings with the Securities and Exchange
Commission, including its most recent Annual Report on Form 10-K and its
Quarterly Reports on Form 10-Q. The forward-looking statements contained
herein speak only as of the date on which they are made, and JAKKS
undertakes no obligation to update any of them to reflect events or
circumstances after the date of this release.