NEW YORK–(Organization WIRE)–Push Shack Inc. (NYSE: DS, the “Company”), a foremost operator and operator of golfing-relevant leisure and amusement corporations, announced right now that it priced its underwritten general public supplying of 20,833,334 shares of popular stock at a selling price to the public of $2.40 for every share for gross proceeds of approximately $50 million. All shares of popular inventory are remaining available by the Corporation. The Firm has granted the underwriters an alternative for a period of time of 30 days to order up to an extra 3,124,999 shares of prevalent stock. The providing is predicted to close on February 2, 2021, matter to customary closing situations.
The Enterprise intends to use the internet proceeds from this providing for investments and common company reasons, which includes for functioning money and the planned improvement of five of seven Puttery venues in 2021.
BTIG, LLC is performing as guide ebook-operating supervisor and Craig-Hallum Cash Team LLC is acting as joint book-operating manager for the presenting.
The providing is becoming built pursuant to the Company’s powerful shelf registration assertion on Type S-3 (333-251671) filed with the Securities and Exchange Fee (the “SEC”). The supplying is remaining built only by suggests of a prospectus and a relevant prospectus complement. Potential buyers must read through the prospectus complement and the prospectus in that registration statement and other documents the Corporation has filed or will file with the SEC for a lot more finish information and facts about the Business and the offering. You might get these documents for totally free by browsing EDGAR on the SEC’s web page at www.sec.gov. Alternatively, copies of the prospectus health supplement and the prospectus may be attained from BTIG, LLC, 65 East 55th Avenue, New York, NY 10022, or by e-mail at [email protected]
This press release does not constitute an give to offer or the solicitation of an offer to get shares of popular stock, nor shall there be any sale of these securities in any jurisdiction in which these types of give, solicitation or sale would be illegal prior to registration or qualification beneath the securities guidelines of any this kind of jurisdiction.
About Drive Shack
Drive Shack Inc. is a foremost proprietor and operator of golf-linked leisure and leisure businesses.
Particular statements in this press release may well represent ahead-on the lookout statements in the meaning of the Non-public Securities Litigation Reform Act of 1995, together with, but not minimal to, statements relating to the featuring and the meant use of proceeds of the providing. These statements are based on management’s existing anticipations and beliefs and are issue to a quantity of tendencies and uncertainties that could result in genuine success to vary materially from those people described in the forward-wanting statements, lots of of which are over and above our handle. The Organization can give no assurance that its expectations will be attained. Appropriately, you should not area undue reliance on any forward-hunting statements contained in this press release.
For a dialogue of some of the risks and significant things that could impact this sort of forward-hunting statements, see the sections entitled “Risk Factors” in the prospectus nutritional supplement and the prospectus relevant to the presenting and in the Company’s most recent Annual Report on Kind 10-K and Quarterly Report on Variety 10-Q, as very well as the sections entitled “Management’s Discussion and Evaluation of Monetary Ailment and Success of Operations” integrated by reference in the prospectus complement related to the presenting from the Company’s most modern Yearly Report on Type 10-K and Quarterly Report on Type 10-Q. In addition, new threats and uncertainties arise from time to time, and it is not probable for the Enterprise to forecast or assess the influence of every aspect that might bring about its precise results to vary from those people contained in any ahead-hunting statements. Such ahead-wanting statements converse only as of the date of this push launch. The Business expressly disclaims any obligation to release publicly any updates or revisions to any ahead-wanting statements contained herein to replicate any transform in the Company’s anticipations with regard thereto or adjust in functions, situations or situation on which any statement is based.