Ryman Hospitality Properties Late Tuesday Priced Upsized 3.5M Shares @$93.25/Share
Portfolio Pulse from Benzinga Newsdesk
Ryman Hospitality Properties (RHP) has upsized its public offering to 3.85 million shares at $93.25 per share. The net proceeds will be contributed to RHP Hotel Properties, LP to fund a portion of the $800 million acquisition of JW Marriott San Antonio Hill Country Resort & Spa.
June 07, 2023 | 9:48 am
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RHP has upsized its public offering to 3.85 million shares at $93.25 per share, with proceeds to fund a portion of the $800 million acquisition of JW Marriott San Antonio Hill Country Resort & Spa.
The upsized public offering will provide RHP with additional funds to finance the acquisition of JW Marriott San Antonio Hill Country Resort & Spa. This news is relevant and important for RHP investors as it shows the company's progress in raising capital for the acquisition. However, the short-term impact on the stock price is uncertain, as the market may have already priced in the upsizing of the offering.
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