Item 1.01. Entry into a Material Agreement.
Underwriting Agreement
S-3 (No. 333-264352)
filed with the
Under the Underwriting Agreement, the Company and VICI OP made certain customary representations, warranties and covenants concerning the Company, VICI OP and the registration statement, and the Company and VICI OP have also agreed to indemnify the Underwriters, the Forward Sellers and the Forward Purchasers against certain liabilities, or to contribute to payments that such parties may be required to make in respect of those liabilities.
The foregoing description of the Underwriting Agreement does not purport to be complete and is subject to, and is qualified in its entirety by reference to, the full text of the Underwriting Agreement, which is attached hereto as Exhibit 1.1 and is incorporated by reference herein.
Forward Sale Agreements
In connection with the Offering, on
The foregoing description of the Forward Sale Agreements does not purport to be complete and is subject to, and is qualified in its entirety by reference to, the full text of the Forward Sale Agreements, which are attached hereto as Exhibits 1.2, 1.3, 1.4 and 1.5 and are incorporated by reference herein.
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Use of Proceeds of Offering
At an initial forward sale price of
The Company intends to cause the cash proceeds it receives upon settlement of the Forward Sale Agreements to be contributed to VICI OP, which expects to use such proceeds in connection with or in furtherance of the Company's ongoing business and operations, including funding its pipeline for the acquisition, development and improvement of properties, origination and funding of loans directly or indirectly secured by real estate, and other general corporate purposes, which may include capital expenditures, working capital and the repayment or refinancing of indebtedness.
The amount of cash or number of shares of Common Stock the Company receives upon settlement of the Forward Sale Agreements, if any, will depend on the relevant settlement method, market interest rates and, if applicable under cash or net share settlement, the prevailing market price of the Common Stock during the period in which the Forward Purchasers or their respective affiliates unwind their hedge positions with respect to the Forward Sale Agreements. Settlement will occur on one or more dates specified by the Company under the Forward Sale Agreements, which the Company expects to be no later than approximately twelve months from the date of the Prospectus Supplement, subject to acceleration by the Forward Purchasers upon the occurrence of certain events.
Cautionary Note Regarding Forward-Looking Statements
This Current Report on Form
8-K
contains forward-looking statements within the meaning of the federal securities
laws. You can identify these statements by the use of the words "anticipates,"
"believes," "estimates," "expects," "intends," "plans," "projects," "targets,"
"can," "could," "may," "should," "will," "would" and similar expressions that do
not relate to historical matters. All statements other than statements of
historical fact are forward-looking statements. You should exercise caution in
interpreting and relying on forward-looking statements because they involve
known and unknown risks, uncertainties, and other factors which are, in some
cases, beyond the Company's control and could materially affect actual results,
performance, or achievements. Among those risks, uncertainties and other factors
are risks related to market conditions related to the settlement of the Forward
Sale Agreements and the Company's expected use of proceeds. Important risk
factors that may affect the Company's business, results of operations and
financial position are detailed from time to time in the Company's filings with
the
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits Exhibit No. Description 1.1 Underwriting Agreement, dated as ofJanuary 12, 2023 , by and among the Company, VICI OP andMorgan Stanley & Co. LLC ,BofA Securities, Inc. ,Citigroup Global Markets Inc. andJ.P. Morgan Securities LLC , as representatives of the several underwriters listed on Schedule I thereto, the Forward Sellers and the Forward Purchasers 1.2 Forward Sale Agreement, datedJanuary 12, 2023 , by and between the Company andMorgan Stanley & Co. LLC
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1.3 Forward Sale Agreement, datedJanuary 12, 2023 , by and between the Company andBank of America, N.A . 1.4 Forward Sale Agreement, datedJanuary 12, 2023 , by and between the Company andCitigroup, N.A. 1.5 Forward Sale Agreement, datedJanuary 12, 2023 , by and between the Company andJPMorgan Chase Bank, National Association 5.1 Opinion ofHogan Lovells US LLP with respect to the legality of the shares of Common Stock 23.1 Consent ofHogan Lovells US LLP (included in Exhibit 5.1) 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
* Pursuant to Item 601(a)(5) of Regulation
S-K,
certain schedules and exhibits have been omitted.
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