SeaWorld Entertainment Inc Registers for IPO
It has been lately revealed in a report that SeaWorld Entertainment Inc has filed itself with the Securities and Exchange Commission. The report says that the aim of the company is to carry out an initial public offering of stock.
The firm is the parent company of SeaWorld San Diego, which hopes to raise some $100 million by conducting the public offering. Based in Florida, SeaWorld Entertainment Inc. is managed by the private equity firm Blackstone Group, which is based in the New York City.
The report has unveiled that Blackstone Group is likely to sell a part of its stake. However, it itself would remain the owner of a majority following the IPO. IPO proceeds, as per the filing, would be utilized to repay company debt, which as of September 30 was noted at $1.8 billion.
Headquartered in Orlando, the company runs 10 parks across the nation, and for the year ending September, it has reported $1.4 billion in sales. Its plan is to list itself under the symbol SEAS. As per the findings, the planned offering's date, pricing and number of shares to be issued by the firm are not yet out.
Meanwhile, it has been found that Knott's Soak City, which is in Chula Vista, was recently acquired by the firm, which would probably be reopened as Aquatica San Diego in the spring.