Diamond Resorts International® Announces the Closing of Initial Public Offering & Exercise of Underwriters’ Option to Purc...
July 24 2013 - 4:30PM
Business Wire
Diamond Resorts International, Inc. announced today the closing
of its previously announced initial public offering of an aggregate
of 17,825,000 shares of common stock at the initial public offering
price of $14.00 per share. In the offering, the company sold
16,100,000 shares of common stock, and a selling stockholder sold
1,725,000 shares of common stock, which includes 2,100,000 shares
issued and sold by the company and 225,000 shares sold by the
selling stockholder as a result of the full exercise by the
underwriters of their over-allotment option. The net proceeds to
the company were $210,185,500 before deducting offering expenses
payable by the company. The shares began trading on the New York
Stock Exchange under the symbol “DRII” on July 19, 2013.
Credit Suisse, BofA Merrill Lynch, J.P. Morgan and Guggenheim
Securities acted as joint book-running managers, and Cantor
Fitzgerald & Co. acted as co-manager.
The offering was made only by means of a prospectus. Copies of
the final prospectus related to the offering may be obtained from
the offices of Credit Suisse Securities (USA) LLC, Attention:
Prospectus Department, One Madison Avenue, New York, New York
10010, or by telephone at +1 (800) 221-1037, or by email at
newyork.prospectus@credit-suisse.com.
A registration statement relating to these securities was
declared effective by the Securities and Exchange Commission. This
press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of
these securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
About Diamond Resorts International®
Diamond Resorts International® is a global leader in the
hospitality and vacation ownership industry, with an ownership base
of more than 490,000 owner-families and a worldwide network of 296
vacation destinations located in 32 countries throughout the
continental United States, Hawaii, Canada, Mexico, the Caribbean,
Central America, South America, Europe, Asia, Australia and
Africa.
Media:Diamond Resorts CorporationStevi Wara, 1-702-823-7069Fax:
1-702-684-8705media@diamondresorts.comorInvestors:Sloane &
CompanyJosh Hochberg, 1-212-446-1892jhochberg@sloanepr.comorDan
Zacchei, 1-212-446-1882dzacchei@sloanepr.com
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