Preferred Stock OfferingsBy Preferred Stock Channel Staff, updated Sat, May 21, 8:57 AM
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Slide #76. Sabre Corporation — Preferred Stock Offering
Sabre Corporation (NASDAQ:SABR)
Date of Pricing:
Price Per Share:
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. partners with airlines, hoteliers, agencies and other travel partners to retail, distribute and fulfill travel. Co. operates via two business segments: Travel Solutions, which provides global travel solutions for travel suppliers and travel buyers through a business-to-business travel marketplace consisting of its global distribution system (GDS) and a set of solutions that integrate with its GDS to add value for travel suppliers and travel buyers; and Hospitality Solutions, which provides software and solutions, through software-as-a-service and hosted delivery models, to hoteliers around the world.
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Hold (1.67 out of 4)
(ranked lower than approx. 100% of all stocks covered)
Based on data provided by Zacks Investment Research via Quandl.com