Business Services Industry
USA Interactive Advised that Vivendi Universal Has Entered into Agreement to Sell 28 Million Warrants of USAI
Business Wire, Feb 12, 2003
Business Editors
NEW YORK--(BUSINESS WIRE)--Feb. 12, 2003
USA Interactive (Nasdaq:USAI) announced today that it has been advised by Vivendi Universal, S.A. that Vivendi has entered into an agreement to sell to an affiliate of Deutsche Bank 28 million warrants to acquire shares of USA common stock (in two tranches), plus an option to acquire approximately 4.19 million additional warrants.
In addition, Deutsche Bank announced today that an affiliate of Deutsche Bank is offering to sell notes exchangeable into approximately 28 million shares of USA common stock. USA has been advised that the transactions are subject to customary closing conditions and are expected to be completed in three business days. USA is not receiving any of the proceeds from the sale of the warrants from Vivendi to Deutsche Bank or from the sale of the notes by Deutsche Bank.
This notice does not constitute an offer to sell or the solicitation of an offer to buy securities. The warrants and the shares of USA common stock issuable upon exercise of the warrants have not been, and will not be, registered under the Securities Act of 1933, as amended, or the securities laws of any other jurisdiction and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.
About USA Interactive
USA Interactive (Nasdaq: USAI) engages worldwide in the business of interactivity via the Internet, the television and the telephone. USA's multiple brands are organized across three areas: Electronic Retailing, Information & Services and Travel Services. Electronic Retailing is comprised of HSN, America's Store, HSN.com, and Home Shopping Europe and Euvia in Germany. Information & Services includes Ticketmaster, Match.com, uDate (transaction pending), Citysearch, Evite, Entertainment Publications (transaction pending) and Precision Response Corporation. Travel Services consists of Expedia (Nasdaq: EXPE), Hotels.com (Nasdaq: ROOM), Interval International, TV Travel Group and USA's forthcoming U.S. cable travel network.
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