Las Vegas Sands Announces Pricing of Common Stock Offering by its Principal Stockholder
Las Vegas Sands Announces Pricing of Common Stock Offering by its Principal Stockholder |
[28-November-2023] |
LAS VEGAS, Nov. 28, 2023 /PRNewswire/ -- Las Vegas Sands Corp. (NYSE: LVS) ("Sands" or the "Company") today announced the pricing of the previously announced secondary public offering of 46,264,168 shares of its common stock (the "Offering") by Dr. Miriam Adelson and The Miriam Adelson Trust (the "Selling Stockholders") at a price to the public of $44.00 per share. The Offering is expected to close on December 1, 2023, subject to satisfaction of customary conditions. The Company will not receive any proceeds from the sale of the shares by the Selling Stockholders. Goldman Sachs & Co. LLC and BofA Securities are acting as joint book-running managers for the Offering. In connection with the Offering, the Selling Stockholders and certain related trusts have entered into lock-up agreements for a period of 365 days from the pricing date of the Offering, during which time they will be restricted from engaging in certain transactions with respect to shares of the Company's common stock. In addition, subject to the closing of the Offering, the Company has agreed to repurchase 5,783,021 of the shares of common stock being offered in the Offering for approximately $250 million at the same per share price to be paid by the underwriters to the Selling Stockholders in the Offering (the "Share Repurchase"). The completion of the Share Repurchase is conditioned on, and is expected to close concurrently with, the closing of the Offering. The closing of the Offering is not conditioned on the completion of the Share Repurchase. The Offering is being made pursuant to an automatically effective shelf registration statement on Form S-3 filed with the Securities and Exchange Commission ("SEC") on November 3, 2023. A preliminary prospectus supplement relating to and describing the terms of the Offering has been filed with the SEC and is available on the SEC's website at www.sec.gov. Alternatively, copies of the final prospectus supplement and the accompanying prospectus relating to the Offering can be obtained, when available, from: Goldman Sachs & Co. LLC, Attn: Prospectus Department, 200 West Street, New York, New York 10282, by telephone at 1-866-471-2526 or by email at prospectus-ny@ny.email.gs.com; or BofA Securities, Attn: Prospectus Department, NC1-022-02-25, 201 North Tryon Street, Charlotte, North Carolina 28255-0001 or by email at dg.prospectus_requests@bofa.com. This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities, nor will there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. About Sands Our iconic properties drive valuable leisure and business tourism and deliver significant economic benefits, sustained job creation, financial opportunities for local businesses and community investment to help make our host regions ideal places to live, work and visit. Sands' portfolio of properties includes Marina Bay Sands in Singapore and The Venetian Macao, The Plaza and Four Seasons Hotel Macao, The Londoner Macao, The Parisian Macao and Sands Macao in Macao SAR, China, through majority ownership in Sands China Ltd. Sands is dedicated to being a leader in corporate responsibility, anchored by our core tenets of serving people, planet and communities. Our ESG leadership has led to inclusion on the Dow Jones Sustainability Indices for World and North America. Caution Regarding Forward-Looking Statements View original content to download multimedia:https://www.prnewswire.com/news-releases/las-vegas-sands-announces-pricing-of-common-stock-offering-by-its-principal-stockholder-301999993.html SOURCE Las Vegas Sands Corp. | ||
Company Codes: NYSE:LVS |