Bally’s Corporation reports its tender offer final results
The company accepted almost 4.7 million common shares within its previously established price range.
Bally’s Corporation has published the final figures from its tender offer, which was structured in a Dutch auction format with the amount involved not exceeding an aggregate purchase price of $190m. The company previously announced plans to buy its common shares for cash at a price per share ranging between $19.25 and $22.00 per share. The offer ended on July 22.
American Stock Transfer & Trust Company, LLC conducted the final count for the company. According to its figures, Bally’s has accepted for purchase nearly 4.7 million common shares at a price of $22.00 per share. The aggregate purchase price totaled more than $103.3m, while fees and expenses relating to the tender offer were considered.
The validly tendered shares make up close to 8.9% of Bally’s outstanding common shares, according to the report.
Bally’s Corporation said in a statement: “As Bally’s accepted for purchase all shares that were validly tendered at a purchase price at or below $22.00 per share and not validly withdrawn, there is no proration factor. The depositary will promptly pay for all shares accepted for purchase.”
Subject to applicable law, the company said it maintains the option to conduct share repurchase “from time to time on the open market or in private transactions.” Currently, Bally’s has $334.6 million available under its previously announced capital return program for use.
Bally’s is a global casino and entertainment company that owns and manages 14 casinos in 10 US states. Its casino operations have a total of 5,300 hotel rooms, 500 tables games and more than 15,800 slot machines.
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