Forward-Looking Statements This press release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 regarding the company`s financial position, corporate results and business activities that are not historical information. Forward-looking statements may be identified by the use of terminology such as “subjects,” “thinks,” “expected,” “expected,” “planned,” “project,” “estimate,” “may,” “may,” “may,” “may,” “may,” negatives, variations in it and similar expressions, or by discussions about the dividend, share buyback plan, strategy and outlook. While GNC believes that there is a reasonable basis for its expectations and beliefs, it is inherently uncertain. The company is not able to identify its expectations and may not properly demonstrate its beliefs. Many factors could affect future results and lead to actual results differing materially from the facts expressed or implied in forward-looking statements, including, but not limited to (1) CNG, may not be able to obtain shareholder approval, as is required for the issuance of shares; (2) the conditions for completing the transaction may not be met and the necessary administrative approvals cannot be obtained; (3) the transaction may result in unexpected costs, liabilities or delays; (4) CNG`s activities may suffer from the uncertainty associated with the transaction; (5) the outcome of a court proceeding relating to the transaction; (6) CNG may be affected by other economic, commercial, legislative, regulatory and/or competitive factors; (7) the occurrence of events, changes or other circumstances that could lead to the termination of the security purchase agreement; or (8) other risks associated with the closing of the transaction, including the risk that the transaction will not be completed within the expected time frame or not at all. The Company undertakes no commitment to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Actual results may differ materially from those described or implied in these forward-looking statements. A list of factors that could have a significant impact on these forward-looking statements can be included in the Company`s Management Report on Form 10-K for the year ended December 31, 2016. PITTSBURGH, 28. February 21, 2018 /PRNewswire/ — GNC Holdings, Inc. (NYSE: GNC) (the “Company”) announced today that, as part of the credit contract of GNC Nutrition Centers, Inc. (“GNC Nutrition”), maturity lenders have approved the extension of the life of loans held by these lenders by two years to March 2021, subject to certain conditions, in addition to certain other changes to the credit contract. The B-2 term loan, the filo loan and the CNG revolving credit facility have maturities that could have been accelerated until Monday if certain conditions were not met.
As previously announced, GNC`s B-2 maturity loan, filo loan and revolving credit facility have spring maturities that could be accelerated from August 10, 2020 to June 15, 2020 if certain conditions are not met. Given the impact on COVID-19`s business, the Company expected that it would not be able to meet some of these conditions, which could result in an acceleration of the maturity date. In addition, GNC Nutrition terminated its existing revolving credit facility, entered into a new $100 million ABL revolver and exchanged a portion of ABL`s loans for FILO ABL loans totalling $275 million for a total of $275 million. The ABL Revolver and ABL FILO loans will mature in August 2022 and December 2022, subject to certain conditions. Lenders agreed in May to extend the spring deadline to June 15 from May 15. One of the terms of the agreement was that GNC had a cash liquidity of 100 million.