Party City Holdco Inc. (NYSE:PRTY) Files An 8-K Entry into a Material Definitive AgreementItem 1.01
On December21, 2017, Party City Holdco Inc. (the “Company”) entered into a stock purchase agreement (the “Stock Purchase Agreement”) with Advent-Party City Acquisition Limited Partnership (“Advent”) to repurchase 19,841,694 shares of the Company’s common stock directly from Advent in a private transaction for total consideration of $242.1million.
The foregoing description of the Stock Purchase Agreement is not complete and is qualified in its entirety by reference to the complete text of the Stock Purchase Agreement, a copy of which will be filed in the Company’s Annual Report on Form 10-K for the fiscal year ended December31, 2017.
| Item 1.01 | Regulation FD Disclosure. |
On December22, 2017, the Company issued a press release in connection with the execution of the Stock Purchase Agreement, which press release is furnished with the Current Report on Form 8-K and attached hereto as Exhibit 99.1.
The information in Item 1.01 of this Current Report on From 8-K, including the information contained in Exhibit 99.1, shall not be deemed “filed” for purposes of Section18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities under that Section and shall not be deemed to be incorporated by reference into any filing of the Company under the Securities Act of 1933, as amended, or the Exchange Act.
| Item 1.01 | Financial Statements and Exhibits |
(d) Exhibits
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Exhibit No. |
Description |
| 99.1 | Press release, dated December22, 2017. |
Party City Holdco Inc. ExhibitEX-99.1 2 d515069dex991.htm EX-99.1 EX-99.1 Exhibit 99.1 Party City Announces Repurchase of Common Stock ELSMFORD,…To view the full exhibit click here
About Party City Holdco Inc. (NYSE:PRTY)
Party City Holdco Inc. is a party goods retailer and supplier of decorated party goods. The Company operates through two segments: Retail and Wholesale. The Wholesale segment designs, manufactures, contracts for manufacture and distributes party goods, including paper and plastic tableware, metallic and latex balloons, Halloween and other costumes, accessories, novelties, gifts and stationery throughout the world. The Retail segment operates specialty retail party supply stores in the United States and Canada, principally under the names Party City and Halloween City, and it operates e-commerce Websites, principally through the domain name PartyCity.com. The Retail segment also franchises both individual stores and franchise areas throughout the United States, Mexico, and Puerto Rico, principally under the name Party City. Its Party City network consists of approximately 860 superstore locations in the United States and approximately 50 locations in Canada.