Ryman Hospitality Properties Late Tuesday Priced Upsized 3.5M Share Common Stock Offering @$93.25/Share
Portfolio Pulse from Charles Gross
Ryman Hospitality Properties (NYSE:RHP) has upsized and priced its common stock offering at $93.25 per share, increasing the size from 3.5 million to 3.85 million shares. The net proceeds will be used to fund a portion of the $800 million acquisition of JW Marriott San Antonio Hill Country Resort & Spa.
June 07, 2023 | 9:33 am
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Ryman Hospitality Properties (NYSE:RHP) has upsized its common stock offering, potentially diluting existing shares. Proceeds will be used to fund the acquisition of JW Marriott San Antonio Hill Country Resort & Spa.
The upsized common stock offering may lead to dilution of existing shares, which could negatively impact the stock price in the short term. However, the acquisition of JW Marriott San Antonio Hill Country Resort & Spa could potentially add value to the company in the long run.
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