Vici will offer 16,500,000 shares of its common stock, while underwriters will be granted a 30-day option to purchase up to an additional 2,475,000 shares.
The offering is expected to close on November 8, subject to customary closing conditions, with BofA Securities and Citigroup to act as underwriters in the offering.
The underwriters, Vici said, may offer shares of common stock from time to time for sale in one or more transactions on the New York Stock Exchange, in the over-the-counter market, through negotiated transactions or otherwise at market prices prevailing at the time of sale, at prices related to prevailing market prices or at negotiated prices.
Should the underwriters exercise their option to purchase the additional shares, this would increase the total gross proceeds up to a maximum of $586.3m.
Vici expects to use the proceeds to support its business and operations including funding its pipeline for the acquisition, development and improvement of properties, funding loans directly or indirectly secured by real estate, and other general corporate purposes such as capital expenditures, working capital and the repayment or refinancing of indebtedness.
Original article: https://igamingbusiness.com/finance/vici-aiming-to-raise-509-9m-through-common-stock-offering/
