FuboTV sparks $350M offering

Initial purchaser of notes has option to buy up to an additional $52.5 million aggregate principal amount of notes.

January 28, 2021

1 Min Read

NEW YORK – fuboTV, the leading sports-first live TV streaming platform, today announced that it intends to offer $350 million aggregate principal amount of its convertible senior notes due 2026 (the "notes") in a private offering to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"). The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering. fuboTV also intends to grant the initial purchaser of the notes a 13-day option to purchase up to an additional $52.5 million aggregate principal amount of notes.

The notes will be general unsecured obligations of fuboTV and will accrue interest payable semiannually in arrears. The notes will be convertible under certain circumstances into cash, shares of fuboTV's common stock or a combination of cash and shares of fuboTV's common stock, at fuboTV's election. The interest rate, initial conversion rate and other terms of the notes will be determined at the time of pricing of the offering.

fuboTV intends to use the net proceeds from the offering for general corporate purposes, including working capital, business development, sales and marketing activities, capital expenditures, repayment of outstanding debt, potential acquisitions and strategic transactions. However, it has not designated any specific uses and has no current agreements with respect to any material acquisition or strategic transaction.


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