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MIAMI, November 17, 2021 / PRNewswire / – Hemisphere Media Group, Inc. (Nasdaq: HMTV) (the “Companyâ€) today announced that due to market conditions, the Company has elected to withdraw its previously announced offering of common shares , with immediate effect. The offer was opportunistic and at the current level of the share price is no longer attractive to the Company or its shareholders. Following such termination, no Common Shares will be sold in accordance with the Offer.
The Company has abundant liquidity and will continue to fund its day-to-day operations from existing liquidity and cash flow from operations. Importantly, the Company continues to believe that it has the capital and financial flexibility to continue funding its strategic growth initiatives, including investment in content and production for Pantaya.
About Hemisphere Media Group, Inc.
Hemisphere Media Group, Inc. (HMTV) is the only publicly traded US pure-play media company targeting high-growth Hispanic US and Latin American markets with major television, streaming and digital content platforms. Based at Miami, Florida, Hemisphere owns and operates five major American Hispanic cable networks, two Latin American cable networks, the leading broadcast television network in Porto Rico, the leading Spanish-language subscription streaming service in the United States, a Spanish-language content distribution company and owns a stake in a leading broadcast television network in Colombia.
Contact Hemisphere Media Group, Inc .:
Edelman Financial Communication for Hemisphere Media Group
Danielle O’Brien
917-444-6325
[email protected]
Forward-looking statements
The information disclosed in this press release contains certain statements about the Company and its consolidated subsidiaries which do not relate directly or exclusively to historical facts. These statements are or may be considered “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements are necessarily estimates reflecting best judgment and current expectations, plans and assumptions. and beliefs regarding future events (in each case subject to change) of our senior management and the management of our subsidiaries (including target companies) and involve a number of risks, uncertainties and other factors, some of which may be beyond our control and which could cause actual results to differ materially from those expressed or implied in such forward-looking statements. Without limitation, all statements preceded or followed by or which include the words “targets”, “plans”, “believe”, “expects”, “intends”, “will”, “probably “,” Could “,” anticipate “,” estimates “,” projects “,” should “,” could “,” could “,” could “,” expect “,” positioned “,” strategy “,” future â€,“ potential â€,“ forecast â€or words, phrases or terms of similar substance or the negative thereof, are forward-looking statements. These include, without limitation, the future financial and operating results of the Company (including growth and earnings), plans, objectives, expectations and intentions and other statements which do not are not historical facts. We claim safe harbor protection for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 for all forward-looking statements. Forward-looking statements are not guarantees of performance. Factors which could cause actual results to differ materially from those expressed or implied by forward-looking statements are discussed under the headings “Risk Factors†and “Forward-Looking Statements†in the most recent annual report of the Company on Form 10-K and quarterly. reports on Form 10-Q filed with the SEC, as they may be updated in any future report filed with the SEC. If one or more of these factors materialize, or if underlying assumptions prove to be incorrect, our actual results, performance or achievements may differ materially from the future results, performance or achievements expressed or implied by these forward-looking statements. Additionally, many of these risks are currently being magnified by and may, in the future, continue to be magnified by the prolonged impact of the COVID-19 pandemic. The forward-looking statements included herein are made as of the date hereof, and the Company does not undertake to publicly update such statements to reflect subsequent events or circumstances.
SOURCE Hemisphere Media Group, Inc.
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