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Gaylord Entertainment Company Prices Offering of 6,000,000 Shares of Common Stock
Thursday, September 24, 2009 9:52 AM


(Source: Business Wire)trackingGaylord 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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