Crocs, Inc. announced the commencement of a $350 million offering of senior notes due 2031 (the “Notes”) in a private offering, subject to market and other customary conditions. The Notes will be guaranteed, jointly and severally, on an unsecured basis, by certain of Crocs’ wholly-owned restricted subsidiaries.
Crocs intends to use the net proceeds from the offering of the Notes for stock repurchases, which may include accelerated share repurchases, and the remainder, if any, for general corporate purposes, which may include working capital, capital expenditures, repayment of debt and acquisitions.
The Notes and related guarantees are being offered for sale to persons reasonably believed to be qualified institutional buyers in an offering exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”), and to non-U.S. persons outside the United States in compliance with Regulation S under the Securities Act. No assurance can be given that the offering of the Notes will be completed, or, if completed, as to the terms on which it is completed.
The Notes and related guarantees have not been, and will not be, registered under the Securities Act, or the securities laws of any state or other jurisdiction, and unless so registered, may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws. This press release does not constitute an offer to sell or the solicitation of an offer to buy any security and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offering, solicitation or sale would be unlawful. This press release is being issued pursuant to, and in accordance with, Rule 135c under the Securities Act.
About Crocs, Inc.:
Crocs, Inc. is a world leader in innovative casual footwear for women, men, and children, combining comfort and style with a value that consumers know and love. The vast majority of shoes within Crocs’ collection contain Croslite™ material, a proprietary, molded footwear technology, delivering extraordinary comfort with each step. In 2021, Crocs declares that expressing yourself and being comfortable are not mutually exclusive.
Cori Lin, Crocs, Inc.
Melissa Layton, Crocs, Inc.