Golden Entertainment Announces Closing of Public Offering of Common Stock & Full Exercise of Underwriters’ Option to Purcha...
January 23 2018 - 4:15PM
Business Wire
Golden Entertainment, Inc. (Nasdaq: GDEN) (“Golden”) announced
today the closing of its underwritten public offering of 7,475,000
shares of common stock at the previously announced public offering
price of $28.00 per share, which consisted of 6,500,000 shares sold
by certain of its shareholders and 975,000 shares sold directly by
Golden pursuant to the exercise in full of the underwriters’ option
to purchase additional shares.
Golden did not receive any proceeds from the sale of the shares
by the selling shareholders. The aggregate gross proceeds to Golden
from the offering of shares pursuant to the underwriters’ option,
before deducting the underwriting discounts and commissions and
offering expenses, were approximately $27.3 million. Golden expects
to use the net proceeds from the sale of 975,000 primary shares for
general corporate purposes, which may include, among other things,
capital expenditures, opportunistic acquisitions or working
capital.
J.P. Morgan and Morgan Stanley acted as joint book-running
managers and representatives of the underwriters for the offering.
Macquarie Capital also acted as a joint book-running manager. Union
Gaming acted as co-manager for the offering.
The offering is being made pursuant to an effective shelf
registration statement filed with the Securities and Exchange
Commission. The offering of these shares may be made only by means
of a prospectus supplement and the accompanying prospectus, copies
of which may be obtained by contacting: J.P. Morgan Securities LLC,
c/o Broadridge Financial Solutions, 1155 Long Island Avenue,
Edgewood, NY 11717, telephone: (866) 803-9204 and Morgan Stanley
& Co. LLC, Attn: Prospectus Department, 180 Varick Street, 2nd
Floor, New York, New York 10014. Electronic copies of the final
prospectus supplement and accompanying prospectus are also
available on the website of the SEC at http://www.sec.gov.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy any of the offered shares, nor
shall there be any sale of such shares in any state or other
jurisdiction in which such offer, solicitation, or sale would be
unlawful prior to registration or qualification under the
securities laws of such state or other jurisdiction.
About Golden Entertainment, Inc.
Golden Entertainment, Inc. owns and operates gaming properties
across two divisions – resort casino operations and distributed
gaming. Golden operates approximately 16,000 slots, 114 table
games, and 5,164 hotel rooms, and provides jobs for approximately
7,000 team members. Golden owns eight casino resorts – seven in
Southern Nevada and one in Maryland. Through its distributed gaming
business in Nevada and Montana, Golden Entertainment operates video
gaming devices at nearly 1,000 locations and owns nearly 60
traditional taverns in Nevada. Golden Entertainment is licensed in
Illinois to operate video gaming terminals.
Forward Looking Statements
This press release contains forward-looking statements regarding
future events, including statements regarding the proposed public
offering, that are subject to the safe harbors created under the
Securities Act of 1933 and the Securities Exchange Act of 1934.
Forward-looking statements can generally be identified by the use
of words such as “anticipate,” “believe,” “continue,” “could,”
“estimate,” “expect,” “forecast,” “intend,” “may,” “plan,”
“project,” “potential,” “seek,” “should,” “think,” “will,” “would”
and similar expressions, or they may use future dates.
Forward-looking statements in this press release include, without
limitation, statements regarding Golden’s expectations as to the
anticipated use of proceeds from the public offering. These
forward-looking statements are subject to assumptions, risks and
uncertainties that may change at any time, and readers are
therefore cautioned that actual results could differ materially
from those expressed in any forward-looking statements. Factors
that could cause actual results to differ include, among other
things: risks and uncertainties associated with market conditions
and other risks and uncertainties discussed in Golden’s filings
with the SEC, including the “Risk Factors” section of Golden’s
Quarterly Report on Form 10-Q for the quarter ended September 30,
2017. Golden undertakes no obligation to update any forward-looking
statements as a result of new information, future developments or
otherwise.
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version on businesswire.com: http://www.businesswire.com/news/home/20180123006463/en/
Investor RelationsJCIRJoseph Jaffoni, Richard Land, James Leahy,
212-835-8500gden@jcir.comorMedia RelationsGolden Entertainment,
Inc.Howard Stutz, 702-495-4490Director Corporate
Communicationshstutz@goldenent.com
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