CHICAGO, June 3, 2019 /PRNewswire/ -- Grubhub
Inc. (NYSE: GRUB) ("Grubhub"), the nation's leading online and
mobile food-ordering and delivery marketplace, today announced that
its wholly-owned subsidiary, Grubhub Holdings Inc. ("Grubhub
Holdings"), intends to offer $400
million aggregate principal amount of new senior notes due
2027 (the "notes") in a private offering.
The notes will be senior unsecured obligations of Grubhub
Holdings and will be guaranteed by Grubhub and each of its domestic
subsidiaries that serve as guarantors under Grubhub's credit
facility. Grubhub intends to use the net proceeds from the offering
primarily to repay the approximately $340
million of outstanding borrowings under its existing secured
credit facility.
The notes and related guarantees are being offered only to
persons reasonably believed to be qualified institutional buyers in
reliance on Rule 144A under the Securities Act of 1933, as amended
(the "Securities Act"), or outside the
United States to non-U.S. persons in compliance with
Regulation S under the Securities Act. This press release shall not
constitute an offer to sell or the solicitation of an offer to buy
the notes and related guarantees. Any offers of the notes and
related guarantees will be made only by means of a private offering
memorandum. The notes and related guarantees have not been
registered under the Securities Act, or the securities laws of any
other jurisdiction, and may not be offered or sold in the United States without registration or an
applicable exemption from registration requirements.
About Grubhub
Grubhub (NYSE: GRUB) is the nation's
leading online and mobile food-ordering and delivery marketplace
with the largest and most comprehensive network of restaurant
partners, as well as the largest diner base. Dedicated to
connecting diners with the food they love from their favorite local
restaurants, Grubhub strives to elevate food ordering through
innovative restaurant technology, easy-to-use platforms and an
improved delivery experience. Grubhub is proud to work with more
than 115,000 restaurant partners in over 2,200 U.S. cities and
London. The Grubhub portfolio of
brands includes Grubhub, Seamless, LevelUp, Tapingo, AllMenus and
MenuPages.
Forward-Looking Statements
This press release
contains "forward-looking statements," which are subject to the
safe harbor provisions of the U.S. Private Securities Litigation
Reform Act of 1995. Forward-looking statements, such as those
regarding the notes offering, involve substantial known and unknown
risks, uncertainties and assumptions that could cause actual
results to differ materially from any future results expressed or
implied by the forward-looking statements. Such risks and
uncertainties include, but are not limited to, the notes offering
being subject to market conditions as well as the other risks and
uncertainties set forth in the filings that we make with the
Securities and Exchange Commission from time to time, including
those set forth in the section entitled "Risk Factors" in
our Annual Report on Form 10-K filed on February 28, 2019, which is on file with the SEC.
Please also note that forward-looking statements represent
management's beliefs and assumptions only as of the date of this
press release. Except as required by law, we disclaim any intention
to, and undertake no obligation to, publicly update these
forward-looking statements, or to update the reasons actual results
could differ materially from those anticipated in the
forward-looking statements, even if new information becomes
available in the future.
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SOURCE Grubhub Inc.