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By Preferred Stock Channel Staff, updated Saturday, November 8, 10:14 PM
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Free SABR Email Alerts:
Preferred Stock Offerings
| This Slide: #149 of 654 |
Slide #149. Sabre Corporation — Preferred Stock Offering
Company:
Sabre Corporation (NASDAQ:SABR)
Date announced:
8/18/2020
Shares Offered:
3,000,000
Date of Pricing:
8/19/2020
Price Per Share:
$10.00
Preferred Stock Offering Details:
Sabre Corporation ("Sabre") (Nasdaq: SABR) today announced registered public offerings (the "Offerings") of (1) $250,000,000 of mandatory convertible preferred stock (or $287,500,000 if the underwriters fully exercise their overallotment option to purchase additional shares) and (2) $250,000,000 of common stock (or $287,500,000 if the underwriters fully exercise their option to purchase additional shares). The precise timing, size and terms of the offerings are subject to market conditions and other factors. The net proceeds from the Offerings will be used for general corporate purposes. The completion of each Offering is not contingent on the consummation of the other Offering. -updated 8/19- Sabre Corporation ("Sabre") (Nasdaq: SABR) today announced that it has priced concurrent registered public offerings (the "Offerings") of (1) 3,000,000 shares of 6.50% Series A Mandatory Convertible Preferred Stock at a price to the public of $100.00 per share and (2) 35,714,286 shares of common stock at a price to the public of $7.00 per share. Sabre has granted the underwriters of the mandatory convertible preferred stock offering a 30-day option to purchase up to an additional 450,000 shares of mandatory convertible preferred stock, solely to cover overallotments, and has granted the underwriters of the common stock offering a 30-day option to purchase up to an additional 5,357,143 shares of common stock. The Offerings are scheduled to settle on August 24, 2020, subject to customary closing conditions. The completion of each Offering is not contingent on the consummation of the other Offering.
Sabre Corporation is a software and technology company, which powers the global travel industry, serving a range of travel companies, including airlines, hoteliers, travel agencies and other suppliers. Co. provides retailing, distribution and fulfillment solutions that help its customers operate efficiently, drive revenue and offer personalized traveler experiences. Through its travel marketplace, it connects travel suppliers with buyers from around the globe. It operates through two segments: Travel Solutions and Hospitality Solutions.
Preferred: SABRP
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