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Slideshow Preferred Stock Offerings

By Preferred Stock Channel Staff, updated Sun, December 5, 6:00 AM

Slide #68. 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 is a software and technology company that focuses on the global travel industry. Co. operates through three business segments: Travel Network, which consists primarily of its global distribution system (GDS) and a range of solutions that integrate with its GDS; Airline Solutions, which provides a portfolio of software technology products and solutions, through software-as-a-service (SaaS) and hosted delivery model, to airlines and other travel suppliers and provides software solutions; and Hospitality Solutions, which provides software and solutions, through SaaS and hosted delivery model, to hoteliers around the world.
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Name: 
Sabre Corp
Website: 
www.sabre.com
Sector: 
Application Software
Number of ETFs Holding SABR: 
53 (see which ones)
Total Market Value Held by ETFs: 
$397,637,905.98
Total Market Capitalization: 
$2,435,000,000
% of Market Cap. Held by ETFs: 
16.33%
 

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