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JAKKS Pacific Announces Closing of Maturity Extension until 2020 of $21.55 Million of Company’s Convertible Senior Notes

SANTA MONICA, Calif.--(BUSINESS WIRE)--Nov. 8, 2017-- JAKKS Pacific, Inc. (NASDAQ: JAKK) is pleased to announce the Company has completed the previously announced transaction with Oasis to exchange $21.55 million face amount of 4.25% Convertible Senior Notes due in 2018 for a new Convertible Senior Note due 2020 which would extend the maturity date to November 2020 and reduce the interest rate to 3.25%, if paid in cash. After such exchange, the remaining outstanding balance of the face amount of the 2018 Notes will have been reduced to approximately $21.2 million.

The new note is convertible at the option of the holder. The initial conversion price is $3.05 or 117.25% of the closing market price on the day preceding consummation of the exchange. The note has a 9.99% beneficial ownership limit of the Company’s issued and outstanding shares of common stock upon conversion. In addition, the Company will seek approval in order to deliver shares which would exceed 19.9% of the Company’s issued and outstanding shares of common stock on the closing date of the Note exchange. The Company has retained the option to satisfy its conversion obligation by paying or delivering, cash shares, or a combination in order to satisfy its conversion obligation.

About JAKKS Pacific, Inc.

JAKKS Pacific, Inc. (NASDAQ: JAKK) is a leading designer, manufacturer and marketer of toys and consumer products sold throughout the world, with its headquarters in Santa Monica, California. JAKKS Pacific’s popular proprietary brands include BIG-FIGS™, XPV®, Max Tow™ and Friends, Disguise®, Moose Mountain®, Funnoodle®, Maui®, Kids Only!®; a wide range of entertainment-inspired products featuring premier licensed properties; and, C’est Moi™, a youth skincare and makeup brand. Through JAKKS Cares, the company’s commitment to philanthropy, JAKKS is helping to make a positive impact on the lives of children. Visit us at www.jakks.com and follow us on Instagram (@jakkstoys), Twitter (@jakkstoys) and Facebook (JAKKS Pacific).

© 2017 JAKKS Pacific, Inc. All rights reserved.

Forward Looking Statements

This press release may contain “forward-looking statements” (within the meaning of the Private Securities Litigation Reform Act of 1995) that are based on current expectations, estimates and projections about JAKKS Pacific's business based partly on assumptions made by its management. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such statements due to numerous factors, including, but not limited to, those described above, changes in demand for JAKKS' products, product mix, the timing of customer orders and deliveries, the impact of competitive products and pricing, and difficulties with integrating acquired businesses. The “forward-looking statements” contained herein speak only as of the date on which they are made, and JAKKS undertakes no obligation to update any of them to reflect events or circumstances after the date of this release.

Source: JAKKS Pacific, Inc.

JAKKS Pacific
Sara Rosales Montalvo, 424-268-9363
SaraRM@jakks.net
or
Joel Bennett, 310-455-6210
JoelB@jakks.net
or
Liolios
Sean McGowan, 949-574-3860
JAKK@liolios.com


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