KATY, Texas, May 4, 2026 /PRNewswire/ — Academy Sports and Outdoors, Inc. (“Academy”) (Nasdaq: ASO) at present introduced that its wholly-owned subsidiary, Academy, Ltd. (the “Issuer”), intends to supply $500 million mixture principal quantity of senior secured notes due 2031 (the “Notes”) in a non-public providing that’s exempt from the registration necessities of the Securities Act of 1933, as amended (the “Securities Act”), topic to market and different situations.
The Issuer intends to make use of the web proceeds from the Notes to fund the redemption of all of its excellent senior secured notes due 2027 (the “2027 Notes,” and such redemption, the “Redemption”), repay all excellent quantities owing underneath its time period mortgage facility, pay associated charges and bills, and for common company functions.
Academy additionally introduced at present that it has delivered a discover of conditional redemption for all of the 2027 Notes at a redemption worth equal to 100.00% of the principal quantity of the 2027 Notes, plus accrued and unpaid curiosity to, however not together with, the redemption date (the “Redemption Price”). The redemption date for the 2027 Notes offered within the discover of conditional full redemption is May 14, 2026 (the “Redemption Date”). The Issuer’s obligation to redeem the 2027 Notes and pay the Redemption Price is conditioned upon the completion of an providing by the Issuer of at the very least $500 million mixture principal quantity of the Notes on or earlier than the Redemption Date. The Issuer could waive this situation at its sole discretion. Academy will publicly announce and notify the holders of the 2027 Notes and the Trustee (as outlined under) if the foregoing situation just isn’t happy or waived, whereupon the Redemption will probably be revoked and the 2027 Notes will stay excellent. The Bank of New York Mellon Trust Company, N.A. is the trustee (the “Trustee”) for the 2027 Notes and is serving because the paying agent for the Redemption.
The Notes will probably be assured on a senior secured foundation by sure of Academy’s subsidiaries that assure the Issuer’s credit score services. The Notes and the associated ensures will probably be secured by (i) a first-priority lien on considerably all of the Issuer’s and the guarantors’ private property, and (ii) a second-priority lien on the Issuer’s and the guarantors’ private property securing the Issuer’s asset-based revolving credit score facility on a first-priority foundation.
The Notes and the associated ensures haven’t been and won’t be registered underneath the Securities Act, or any state securities legal guidelines and is probably not provided or bought within the United States absent registration or an relevant exemption from the registration necessities of the Securities Act and relevant state legal guidelines. The Notes and the associated ensures are being provided solely to individuals fairly believed to be certified institutional consumers in reliance on Rule 144A underneath the Securities Act, and to non-U.S. individuals exterior the United States pursuant to Regulation S underneath the Securities Act.
This press launch doesn’t represent a proposal to promote, or a solicitation of a proposal to purchase, any securities, nor shall there be any sale of securities in any state or jurisdiction through which such a proposal, solicitation or sale can be illegal previous to registration or qualification underneath the securities legal guidelines of any such state or jurisdiction. This press launch doesn’t represent a discover of redemption for the 2027 Notes. This press launch is being issued pursuant to and in accordance with Rule 135(c) underneath the Securities Act.
About Academy Sports + Outdoors
Academy is a number one full-line sporting items and out of doors recreation retailer within the United States. Originally based in 1938 as a household enterprise in Texas, Academy has grown to greater than 300 shops throughout 21 states and counting. Academy’s mission is to offer “Fun for All” and Academy fulfills this mission with a localized merchandising technique and worth proposition that strongly connects with a broad vary of shoppers. Academy’s product assortment focuses on key classes of out of doors, attire, sports activities & recreation and footwear by each main nationwide manufacturers and a portfolio of non-public label manufacturers. For extra info, go to www.academy.com.
Forward-Looking Statements
This press launch incorporates forward-looking statements inside the which means of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The statements mentioned on this press launch that aren’t purely historic knowledge are forward-looking statements, together with, however not restricted to, the statements relating to the Notes and the use of proceeds therefrom, together with the Redemption and compensation of the time period mortgage facility. These forward-looking statements are primarily based on our present expectations and beliefs regarding future developments and their potential impact on Academy. The forward-looking statements are topic to numerous dangers, uncertainties, assumptions or modifications in circumstances which might be tough to foretell or quantify. Actual outcomes could differ materially from these expectations as a result of components which might be set forth in Academy’s filings with the U.S. Securities and Exchange Commission. Any forward-looking assertion on this press launch speaks solely as of the date of this launch. Academy undertakes no obligation to publicly replace or evaluate any forward-looking assertion, besides as could also be required by any relevant securities legal guidelines.
Media inquiries:
Meredith Klein, Vice President of Communications
346.826.6615
[email protected]
Investor inquires:
Dan Aldridge, Vice President of Investor Relations
832.739.4102
[email protected]
SOURCE Academy Sports + Outdoors
