Diamond Resorts International Commences Public Offering by Selling Stockholders
March 02 2015 - 6:23PM
Business Wire
Diamond Resorts International, Inc. (NYSE:DRII) announced today
the commencement of a secondary public offering of 4,833,000 shares
of its common stock on behalf of certain selling stockholders
pursuant to a registration statement that Diamond filed with the
Securities and Exchange Commission. Each of the selling
stockholders made their investment in Diamond prior to the
company’s 2013 initial public offering. The selling stockholders do
not include any Diamond executives. The underwriter will have a
30-day option to purchase 724,950 additional shares of common stock
from the selling stockholders to cover over-allotments. Diamond
will not sell any stock in the offering and will not receive any
proceeds from the offering.
Diamond intends to purchase from the underwriter up to $50
million of the shares of common stock that are subject to the
offering. The price that Diamond will pay for each share
repurchased will be the same as the price per share that the
underwriter will pay for shares in the offering.
Credit Suisse is acting as sole underwriter of the offering.
The offering will be made only by means of a prospectus and
accompanying prospectus supplement related to the offering. Copies
of such prospectus and prospectus supplement may be obtained, when
available, 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.
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® (NYSE: DRII), with its network of
more than 330 vacation destinations located in 34 countries
throughout the continental United States, Hawaii, Canada, Mexico,
the Caribbean, South America, Central America, Europe, Asia,
Australasia and Africa, provides guests with choice and flexibility
to let them create their dream vacation, whether they are traveling
an hour away or around the world. Our relaxing vacations have the
power to give guests an increased sense of happiness and
satisfaction in their lives, while feeling healthier and more
fulfilled in their relationships, by enjoying memorable and
meaningful experiences that let them Stay Vacationed.™
Diamond Resorts International® manages vacation ownership
resorts and sells vacation ownership points that provide members
and owners with Vacations for Life® at over 330 managed and
affiliated properties and cruise itineraries.
Media:Diamond Resorts International, Inc.Stevi Wara,
1-702-823-7069media@DiamondResorts.comfax:
1-702-684-8705orInvestors:Sloane & CompanyErica Bartsch,
1-212-446-1875ebartsch@sloanepr.com
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