SeaWorld Entertainment Inc is backed by Blackstone Group LP, which has priced the shares for initial public offering of the theme park operator at US$27 per share. The volume offering is 26 million shares with the price near top of the price range for the shares.
Seaworld, which is based out of Orlando, Florida, had raised a total of US$702 million, placing the enterprise value of the theme park operator slightly over US$2.5 billion.
During the IPO, the company sold 10 million shares while Blackstone sold the remaining 16 million out of the total volume available, The IPO was increased after Seaworld amended its earlier filings in order to increase the Blackstone portion of the share sale.
Originally, the price range of the shares is between US$24 and US$27 per share. The lead underwriters of the offering were Goldman Sachs & Co with JP Morgan.
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