Sabre Corp | 6.50% Series A Mandatory Convertible Preferred Stock Due 9/1/2023 (SABRP)
Prospectus excerpt: We are offering 3,000,000 shares of our 6.50% Series A Mandatory Convertible Preferred Stock, which we refer to as our mandatory convertible preferred stock. In addition, we have granted the underwriters an option, which is exercisable within 30 days after the date of this prospectus supplement, to purchase up to an additional 450,000 shares of mandatory convertible preferred stock solely to cover over-allotments.
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.