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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES AND EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): MARCH 19, 1999
SPORTSLINE USA, INC.
(Exact name of registrant as specified in its charter)
DELAWARE
(State or other jurisdiction of incorporation)
0-23337 65-0470894
(Commission File Number) (I.R.S. Employer Identification No.)
6340 N.W. 5TH WAY
FORT LAUDERDALE, FLORIDA 33309
(Address of principal executive offices) (Zip Code)
(954) 351-2120
(Registrant's telephone number, including area code)
(NOT APPLICABLE)
(Former name or former address, if changed since last report)
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ITEM 5. OTHER EVENTS.
On March 19, 1999, SportsLine USA, Inc., a Delaware corporation (the
"Company"), issued a press release announcing that it has priced its 144A
private offering of convertible subordinated notes. A copy of this press release
is attached hereto as Exhibit 99.1, and information contained therein is
incorporated herein by reference.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS.
(c) Exhibits
EXHIBIT INDEX
99.1 Press Release of SportsLine USA, Inc. dated March 19, 1999.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
SPORTSLINE USA, INC.
Date: March 19, 1999 By: /s/ Kenneth W. Sanders
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Kenneth W. Sanders
Chief Financial Officer
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Exhibit 99.1
SPORTSLINE USA, INC. ANNOUNCES PRICING OF CONVERTIBLE SUBORDINATED OFFERING
FORT LAUDERDALE, FL (MARCH 19, 1999) - SportsLine USA, Inc. (Nasdaq: SPLN) today
announced that it has priced its 144A private offering of convertible
subordinated notes. SportsLine has agreed to sell $150 million of 5% convertible
subordinated notes due April 1, 2006. Additionally, SportsLine has granted the
initial purchasers a 30-day option to buy an additional $50 million of
convertible subordinated notes on the same terms.
The notes are convertible into shares of SportsLine's common stock at a
conversion price of $65.125, subject to adjustment in certain events.
Proceeds from the Rule 144A offering will be used for working capital and other
general corporate purposes, including expansion of the Company's marketing and
advertising sales efforts, international expansion and capital expenditures.
ABOUT SPORTSLINE USA, INC.
SportsLine USA, Inc. (Nasdaq: SPLN) is a leading Internet-based sports media
company that provides branded, interactive information and programming as well
as merchandise to sports enthusiasts worldwide. The publisher of CBS SportsLine
(cbs.sportsline.com), SportsLine USA's content includes more than 400,000 pages
of multimedia sports information, entertainment and merchandise, covering all
major professional, collegiate and international sports with exclusive content
from sports teams, organizations and superstars such as Michael Jordan, Tiger
Woods and Shaquille O'Neal. The Sports Store (www.thesportsstore.com) is
SportsLine USA's electronic commerce arena offering a unique collection of
sports-related merchandise, memorabilia and licensed products. In 1998, the
Company acquired two golf-related properties, GolfWeb (www.golfweb.com) the
Internet's premier golf site, and International Golf Outlet (www.igogolf.com), a
leading Internet retailer of fine golf products and equipment. SportsLine USA
was founded in 1994, and its flagship Internet sports service was renamed CBS
SportsLine in March of 1997 as part of an exclusive five-year promotional and
content agreement with CBS Sports that extends through 2006.
Note: This press release contains forward-looking statements, which involve
risks and uncertainties. SportsLine USA's actual results could differ materially
from those anticipated in these forward-looking statements. Factors that might
cause or contribute to such differences include, among others, competitive
pressures, the growth rate of the Internet, constantly changing technology and
market acceptance of the company's products and services. Investors are also
directed to consider the other risks and uncertainties discussed in SportsLine
USA's Securities and Exchange Commission filings, including those discussed
under the caption "Risk Factors That May Affect Future Results" in SportsLine
USA's latest Annual Report on Form 10-K. SportsLine USA undertakes no obligation
to publicly release the result of any revisions to these forward-looking
statements, which may be made to reflect events or circumstances after the date
hereof or to reflect the occurrence of unanticipated events.
