Corporate ActionAug 10, 2026, 07:11 AM
Ryman Hospitality Offers 5.1M Shares to Fund $1.38B Acquisition
AI Summary
Ryman Hospitality Properties, Inc. announced the commencement of an underwritten public offering of 5,100,000 shares of its common stock, with an option for underwriters to purchase up to 765,000 additional shares. The company intends to use the net proceeds to fund a portion of the approximately $1.38 billion acquisition of the JW Marriott Orlando Grande Lakes Resort and The Ritz-Carlton Orlando, Grande Lakes. The balance of the acquisition price will be covered by cash on hand and debt financing. The offering is not contingent on the acquisition's completion, and proceeds will be used for general corporate purposes if the acquisition does not close.
Key Highlights
- Ryman Hospitality Properties commenced an underwritten public offering of 5,100,000 shares of common stock.
- Underwriters have a 30-day option to purchase up to 765,000 additional shares of common stock.
- Net proceeds will fund a portion of the $1.38 billion Grande Lakes Acquisition.
- The Grande Lakes Acquisition involves JW Marriott Orlando Grande Lakes and The Ritz-Carlton Orlando.
- Remaining acquisition price will be funded by cash on hand, debt, or existing property-level secured loan assumption.
- BofA Securities, J.P. Morgan, Morgan Stanley, and Wells Fargo Securities are joint book-running managers.
- If the acquisition is not consummated, proceeds will be used for general corporate purposes.
Price Impact
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