Playa Hotels & Resorts N V Announces Pricing of Public Offering of Ordinary Shares morningstar.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from morningstar.com Daily Mail and Mail on Sunday newspapers.
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FAIRFAX, Va., Jan. 6, 2021 /PRNewswire/ Playa Hotels & Resorts N.V. (NASDAQ: PLYA) ( Playa ) today announced that it had commenced an underwritten public offering of 35,000,000 of its Ordinary Shares, consisting of 25,000,000 Ordinary Shares offered by Playa and 10,000,000 Ordinary Shares offered by a selling shareholder. Playa and the selling shareholder also plan to grant the underwriters an option to purchase up to an additional 3,750,000 Ordinary Shares from Playa and up to an additional 1,499,000 Ordinary Shares from the selling shareholder, respectively.
Playa intends to use the net proceeds from the offering to repay the amount outstanding under its revolving credit facility and for general corporate purposes. Playa will not receive any proceeds from the sale of Ordinary Shares by the selling shareholder, a fund affiliated with Sagicor Group Jamaica Limited.