Market Overview

Rimini Street Completes $140 Million Refinancing


Transaction expected to unlock more than $95 million of cash flow
over next three years

Street, Inc.
(NASDAQ:RMNI), a global provider of enterprise
software products and services, and the leading third-party support
provider for Oracle and SAP software products, today announced it has
completed the $140 million refinancing of its credit facility (the
"Refinancing") previously
on June 18, 2018. Rimini Street stockholders approved the
transaction on July 12, 2018.

As part of the Refinancing, a syndicate of investors participated in the
private placement of $140 million of Series A convertible preferred
stock and received 2,896,556 shares of common stock. The Refinancing is
expected to reduce debt related costs that would have been incurred
under the previous credit facility by more than $95 million over the
next three years, free up cash flow for investment in growth and extend
the expected "maturity" from June 2020 under the prior credit facility
to July 2023, when the preferred equity may be redeemed by the holders
if not already converted.

The Company used substantially all of the net proceeds from the
Refinancing to repay in full the outstanding indebtedness and fees under
its credit facility and terminated the credit facility. The aggregate
cash payment to terminate the credit facility was $132.8 million and
consisted of make-whole applicable premium of $7.3 million and an
aggregate of $125.5 million for principal, accrued interest and fees.

The Series A convertible preferred stock issued in the Refinancing is
subject to an original issuance discount of 5%, has a conversion price
of $10.00 per common share (representing a 44% premium over the $6.95
closing price per common share on July 18, 2018), a cash dividend of 10%
per annum and a payment-in-kind (PIK) dividend of 3% per annum. Rimini
Street, under certain circumstances, may redeem for cash up to $80
million of the Series A convertible preferred stock within the initial
three years, subject to make-whole dividends for that period, and after
three years may redeem all of the preferred equity or force its
conversion into common stock. Under certain circumstances, the investors
may redeem their Series A preferred stock for secured promissory note
obligations. Additional terms of the financing, including when the
promissory notes may replace the preferred stock, can be found in the
Company's SEC filings, including the Current Report on Form 8-K filed

"Rimini Street has been providing value-driven, innovative support
solutions and exceptional service that meet the support service needs of
enterprise software licensees worldwide for over 13 years," said Seth
A. Ravin
, Rimini Street CEO. "I am pleased that our investors
overwhelmingly supported this $140 million Series A convertible
preferred equity transaction, and the transaction was also approved
unanimously by the disinterested directors of the Board. The Refinancing
achieves one of our stated 2018 financial priorities by replacing our
current credit facility with an equity instrument that provides the
Company a significantly lower cost of capital, and more operational
flexibility to invest for growth in new products, services and
geographic expansion."

Transaction Advisors

Cowen served as exclusive financial advisor and placement agent to
Rimini Street. Gibson Dunn & Crutcher LLP acted as legal counsel to
Rimini Street.

About Rimini Street, Inc.

Rimini Street, Inc. (NASDAQ:RMNI) is a global provider of enterprise
software products and services, and the leading third-party support
provider for Oracle and SAP software products, based on both the number
of active clients supported and recognition by industry analyst firms.
The Company has redefined enterprise software support services since
2005 with an innovative, award-winning program that enables licensees of
IBM, Microsoft, Oracle, Salesforce, SAP and other enterprise software
vendors to save up to 90 percent on total support costs. Clients can
remain on their current software release without any required upgrades
for a minimum of 15 years. Over 1,580 global Fortune 500, midmarket,
public sector and other organizations from a broad range of industries
currently rely on Rimini Street as their trusted, third-party support
provider. To learn more, please visit,
follow @riministreet
on Twitter and find Rimini Street on Facebook
and LinkedIn.

Forward-Looking Statements

Certain statements included in this communication are not historical
facts but are forward-looking statements for purposes of the safe harbor
provisions under The Private Securities Litigation Reform Act of 1995.
Forward-looking statements generally are accompanied by words such as
"may," "should," "would," "plan," "intend," "anticipate," "believe,"
"estimate," "predict," "potential," "seem," "seek," "continue,"
"future," "will," "expect," "outlook" or other similar words, phrases or
expressions. These forward-looking statements include, but are not
limited to, statements regarding our expectations as to benefits of the
financing transaction described herein, including projections of
expected cash savings over the next three years and accelerated growth,
future events, future opportunities and growth initiatives. These
statements are based on various assumptions and on the current
expectations of management and are not predictions of actual
performance, nor are these statements of historical facts. These
statements are subject to a number of risks and uncertainties regarding
Rimini Street's business, and actual results may differ materially.
These risks and uncertainties include, but are not limited to, continued
inclusion in the Russell 2000 Index in the future, changes in the
business environment in which Rimini Street operates, including
inflation and interest rates, and general financial, economic,
regulatory and political conditions affecting the industry in which
Rimini Street operates; adverse litigation developments or government
inquiry; the final amount and timing of any refunds from Oracle related
to our litigation; our ability to raise additional equity or debt
financing on favorable terms; changes in taxes, laws and regulations;
competitive product and pricing activity; difficulties of managing
growth profitably; the success of our recently introduced products and
services, including Rimini Street Mobility, Rimini Street Analytics,
Rimini Street Advanced Database Security, and services for Salesforce
Sales Cloud and Service Cloud products; the loss of one or more members
of Rimini Street's management team; uncertainty as to the long-term
value of RMNI common stock; and those discussed under the heading "Risk
Factors" in Rimini Street's Annual Report on Form 10-K filed on March
15, 2018, as updated from time to time by Rimini Street's Quarterly
Reports on Form 10-Q, Current Reports on Form 8-K, and other filings by
Rimini Street with the Securities and Exchange Commission. In addition,
forward-looking statements provide Rimini Street's expectations, plans
or forecasts of future events and views as of the date of this
communication. Rimini Street anticipates that subsequent events and
developments will cause Rimini Street's assessments to change. However,
while Rimini Street may elect to update these forward-looking statements
at some point in the future, Rimini Street specifically disclaims any
obligation to do so, except as required by law. These forward-looking
statements should not be relied upon as representing Rimini Street's
assessments as of any date subsequent to the date of this communication.

© 2018 Rimini Street, Inc. All rights reserved. "Rimini Street" is a
registered trademark of Rimini Street, Inc. in the United States and
other countries, and Rimini Street, the Rimini Street logo, and
combinations thereof, and other marks marked by TM are trademarks of
Rimini Street, Inc. All other trademarks remain the property of their
respective owners, and unless otherwise specified, Rimini Street claims
no affiliation, endorsement, or association with any such trademark
holder or other companies referenced herein.

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