(Source: Business Wire)

Gaylord Entertainment Co. (NYSE: GET) today announced the pricing of its
previously announced public offering of 6,000,000 shares of its
common stock. The offering price of the common stock is $21.80 per
share. Gaylord has granted the underwriters a 30-day option to
purchase up to 900,000 additional shares of common stock to cover
over-allotments, if any.
The aggregate net proceeds from the sale of the common stock are
expected to be approximately $125.0 million, after deducting
underwriting discounts and commissions and estimated expenses, assuming
the underwriters do not exercise their option to purchase additional
shares of common stock. Gaylord intends to use the net proceeds from the
offering, together with other proceeds and with cash on hand, to
purchase, redeem or otherwise acquire all of its $259.8 million
aggregate principal amount outstanding 8% Senior Notes due 2013,
including by means of a previously announced tender offer. The remaining
balance of the net proceeds from the offering (and other proceeds) may
be used for general corporate purposes, which may include acquisitions,
future development opportunities for new hotel properties, potential
expansions or ongoing maintenance of the existing hotel properties,
investments, or the repayment or refinancing of all or a portion of any
outstanding indebtedness of Gaylord.
The offering, which is subject to customary conditions, is expected to
close on September 29, 2009.
Deutsche Bank Securities Inc., BofA Merrill Lynch, Citi and Wells Fargo
Securities LLC are acting as the joint book-running managers for the
offering. Calyon Securities (USA) Inc., KeyBanc Capital Markets, Piper
Jaffray and Raymond James are acting as theco-managers for the offering.
The common stock offering is being made pursuant to an effective shelf
registration statement filed by Gaylord with the Securities and Exchange
Commission. The common stock offering is being made solely by means of a
prospectus and a related prospectus supplement. Copies of the prospectus
and related prospectus supplement may be obtained by contacting Deutsche
Bank Securities, Attention: Prospectus Department, 100 Plaza One, Jersey
City, New Jersey 07311, Telephone: (800) 503-4611; BofA Merrill Lynch, 4
World Financial Center, New York, New York 10080, Attention: Prospectus
Department; Citi, Brooklyn Army Terminal, 140 58th Street, 8th Floor,
Brooklyn, New York 11220, or by calling 800-831-9146; or Wells Fargo
Securities, LLC, Attention: Equity Syndicate Department, 375 Park
Avenue, New York, New York 10152 (email: equity.syndicate@wachovia.com),
or by calling 800-326-5897. Electronic copies of the prospectus and
related prospectus supplement are available on the website of the
Securities and Exchange Commission at http://www.sec.gov.
This press release shall not constitute an offer to sell or a
solicitation of an offer to purchase any of these securities, and shall
not constitute an offer, solicitation or sale of the shares of common
stock in any state or jurisdiction in which such an offer, solicitation
or sale would be unlawful.
About Gaylord Entertainment
Gaylord Entertainment Company (NYSE: GET), a leading hospitality and
entertainment company based in Nashville, Tenn., owns and operates
Gaylord Hotels (www.gaylordhotels.com),
its network of upscale, meetings-focused resorts, and the Grand Ole Opry
(www.opry.com),
the weekly showcase of country music's finest performers for more than
80 consecutive years. Gaylord's entertainment brands and properties
include the Radisson Hotel Opryland, Ryman Auditorium, General Jackson
Showboat, Gaylord Springs Golf Links, Wildhorse Saloon, and WSM-AM. For
more information about Gaylord, visit www.GaylordEntertainment.com.
The foregoing statements regarding Gaylord's intentions with respect to
the contemplated offering and other transactions described above are
forward-looking statements under the Private Securities Litigation
Reform Act of 1995, and actual results could vary materially from the
statements made. Gaylord's ability to complete the offering and other
transactions described above successfully is subject to various risks,
many of which are outside its control, including prevailing conditions
in the capital markets and other risks and uncertainties as detailed
from time to time in the reports filed by Gaylord with the Securities
and Exchange Commission.
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