Ryman Hospitality Properties launches 5,100,000-share common stock offering
RHP•Public offering launched to help fund Grande Lakes acquisition
Ryman Hospitality Properties launched an underwritten public offering of 5,100,000 common shares.
Underwriters receive a 30-day option to buy up to 765,000 additional common shares.
Net proceeds are expected to fund part of the USD 1.38 billion Grande Lakes acquisition; the remaining purchase price will come from cash on hand and debt.
The equity sale is expected to close before the acquisition. If the deal does not go through, the proceeds will be used for general corporate purposes.
