Las Vegas Sands Announces Pricing Of Secondary Offering Of About 46.26 Mln Shares At $44.00/shr

(RTTNews) - Las Vegas Sands Corp. (LVS) announced the pricing of secondary public offering of about 46.26 million shares of its common stock by Miriam Adelson and The Miriam Adelson Trust at a price to the public of $44.00 per share. The offering is expected to close on December 1, 2023.

The company said it will not receive any proceeds from the sale of the shares by the Selling Stockholders.

In connection with the Offering, the Selling Stockholders and certain related trusts have entered into lock-up agreements for a period of 365 days from the pricing date of the Offering, during which time they will be restricted from engaging in certain transactions with respect to shares of the Company's common stock.

In addition, the Company has agreed to repurchase 5.78 million of the shares of common stock being offered in the Offering for approximately $250 million at the same per share price to be paid by the underwriters to the Selling Stockholders in the Offering.