Ryman Hospitality Properties has closed its underwritten public offering of 5,865,000 common shares at $117.00 per share, generating approximately $658 million in net proceeds. The offering included 765,000 shares sold after underwriters fully exercised their over-allotment option. The company will contribute the net proceeds to its operating partnership to fund part of the roughly $1.38 billion purchase price for the JW Marriott Orlando Grande Lakes Resort and The Ritz-Carlton Orlando, Grande Lakes. The remaining balance will be covered by cash on hand and about $689 million in net proceeds from a private placement of $700 million in 6.250% senior notes due 2035, expected to close on August 25, 2026. If the acquisition does not close, the offering proceeds will be used for general corporate purposes and the notes will be redeemed at 100% of their issue price plus accrued interest.
Ryman Hospitality Properties IncClosed $658M stock offering to fund acquisition, strengthening balance sheet.
