New York, NY (Top40 Charts) Live Nation Entertainment, Inc. (NYSE: LYV) ("we" or the "company") today announced the pricing of its previously announced offering of 5,239,259 shares of common stock, at a public offering price of $86.90 per share. The issuance and sale of the common stock are scheduled to settle on
September 17, 2021, subject to customary closing conditions.
The company estimates that the net proceeds from the offering will be approximately $449.6 million, after deducting the underwriting discounts and commissions and estimated offering expenses. The company intends to use the net proceeds from the offering to fund the previously announced acquisition of 51% of the capital stock of OCESA Entretenimiento, S.A. de C.V. (the "OCESA Acquisition"). The company intends to use any remaining proceeds for general corporate purposes. The closing of the common stock offering is not conditioned upon the completion of the OCESA Acquisition.
Goldman Sachs & Co. LLC is acting as sole book-running manager for the offering.
This press release does not constitute an offer to sell, or the solicitation of an offer to buy, any securities referred to in this press release, nor will there be any sale of any such securities, in any state or other jurisdiction in which such offer, sale or solicitation would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction.
We have filed a shelf registration statement on Form S-3 and such registration statement has become effective on
September 14, 2021. The offering of these securities may only be made by means of a final prospectus supplement and accompanying prospectus. Before you invest, you should read the applicable final prospectus supplement and the prospectus in that registration statement and other documents we have filed or will file with the SEC for more complete information about us and the offering. You may get these documents free by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, we, the underwriter or any dealer participating in the applicable offering will arrange to send you the applicable final prospectus supplement and the accompanying prospectus, once available, upon request to: Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, NY 10282, or by telephone at (866) 471-2526, or by email at
[email protected].
