Secondary Stock OfferingsBy The Online Investor Staff, updated Sat., Jul. 2, 1:45 PM
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Slide #2. Gaming and Leisure Properties, Inc. — Secondary Offering
Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)
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Secondary Offering Details:
Gaming and Leisure Properties, Inc. (the "Company" or "GLPI") (NASDAQ: GLPI) today announced that it has commenced an underwritten public offering to sell 6,900,000 shares of common stock. The Company intends to grant the underwriters a 30-day option to purchase up to an additional 1,035,000 shares of common stock. -updated 6/28- Gaming and Leisure Properties, Inc. (the "Company" or "GLPI") (NASDAQ: GLPI) today announced that its previously announced underwritten public offering to sell 6,900,000 shares of common stock has been priced for total gross proceeds (before underwriter's discounts and commissions and offering expenses) of approximately $308.8 million. The underwriters will sell the shares to purchasers directly or through agents, through brokers in brokerage transactions on Nasdaq, to dealers in negotiated transactions or in a combination of such methods of sale, at a fixed price or prices, which may be changed, or at market prices prevailing at the time of sale, at prices related to such prevailing market prices or at negotiated prices. The Company has granted the underwriters a 30-day option to purchase up to an additional 1,035,000 shares of common stock. The offering is expected to close on July 1, 2022, subject to customary closing conditions.
Gaming & Leisure Properties is a self-administered and self-managed Pennsylvania real estate investment trust. Co.'s primary business consists of acquiring, financing, and owning real estate property to be leased to gaming operators in triple-net lease arrangements. Co. has two reportable segments: GLP Capital, L.P. (GLP Capital), which is a wholly-owned subsidiary of Co.; and the Taxable Real Estate Investment Trust Subsidiary Segment (TRS Segment). The GLP Capital reportable segment consists of the leased real property and represents the majority of Co.'s business. The TRS Segment consists of Hollywood Casino Perryville, Hollywood Casino Baton Rouge and Tropicana Las Vegas.
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Buy (3.42 out of 4)