CHICAGO – 14 August, 2020: Accel Entertainment, Inc. (NYSE: ACEL) (the “Company”) announced today the completion of its previously announced exchange offer (the “Offer”) relating to outstanding warrants to purchase shares of its Class A-1 Common Stock. The Offer expired at 11:59 p.m., Eastern Standard Time, on August 11, 2020 (the “Expiration Date”).
A total of 7,189,990 warrants were validly tendered and not withdrawn prior to the Expiration Time, representing approximately 99.93% of the total warrants outstanding. On August 14, 2020, Accel accepted all such warrants and expects to issue an aggregate of 1,797,474 shares of Class A-1 Common Stock in exchange for the warrants tendered. Delivery of the shares to be issued in exchange for the warrants will be made promptly.
This press release is for informational purposes only and does not constitute an offer to sell, or a solicitation of an offer to buy, the securities described herein, and is also not a solicitation of the related consents. The Offer was made only pursuant to the terms and conditions of the Prospectus/Offer to Exchange and related letter of transmittal.
About the Company
Accel is a leading distributed gaming operator in the United States on an Adjusted EBITDA basis, and a preferred partner for local business owners in the Illinois market. Accel’s business consists of the installation, maintenance and operation of VGTs, redemption devices that disburse winnings and contain ATM functionality, and other amusement devices in authorized non-casino locations such as restaurants, bars, taverns, convenience stores, liquor stores, truck stops, and grocery stores.
