Diamond Resorts International® Prices Initial Public Offering at $14.00 Per Share
19 July 2013 - 8:36PM
Business Wire
Diamond Resorts International, Inc. announced today that it has
priced its initial public offering of 15,500,000 shares of its
common stock at a price of $14.00 per share. The company is selling
14,000,000 of these shares of common stock and a selling
stockholder is selling the remaining 1,500,000 shares of common
stock. In addition, the company and the selling stockholder have
granted to the underwriters a 30-day option to purchase up to
2,100,000 additional shares from the company and up to 225,000
additional shares from the selling stockholder at the initial
public offering price, less the underwriting discounts and
commissions, to cover over-allotments, if any.
The shares are expected to begin trading on the New York Stock
Exchange under the symbol “DRII” on July 19, 2013, and the offering
is expected to close on or about July 24, 2013, subject to
customary closing conditions.
Credit Suisse, BofA Merrill Lynch, J.P. Morgan and Guggenheim
Securities are acting as joint book-running managers, and Cantor
Fitzgerald & Co. is acting as co-manager.
The offering will be made only by means of a prospectus. Copies
of the prospectus related to the offering may be obtained from the
offices of Credit Suisse Securities (USA) LLC, Attention:
Prospectus Department, One Madison Avenue, New York, New York
10010, or by telephone at +1 (800) 221-1037, or by email at
newyork.prospectus@credit-suisse.com.
A registration statement relating to these securities was
declared effective by the Securities and Exchange Commission. This
press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall 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 Diamond Resorts International®
Diamond Resorts International® is a global leader in the
hospitality and vacation ownership industry, with an ownership base
of more than 490,000 owner-families and a worldwide network of 296
vacation destinations located in 32 countries throughout the
continental United States, Hawaii, Canada, Mexico, the Caribbean,
Central America, South America, Europe, Asia, Australia and
Africa.
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