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SeaWorld increases insider selling, deal size now over $650 million
4/18/2013 8:53:00 AM
By: Renaissance Capital
SeaWorld Entertainment, a Blackstone-backed operator of 11 US
theme parks such as SeaWorld and Busch Gardens, raised the
proposed deal size for its upcoming IPO on Thursday. The Orlando,
FL-based company now plans to raise $663 million by offering 26
million shares (62% insider) at a price range of $24 to $27. The
company had previously filed to offer 20 million shares (50%
insider); the additional 6 million shares are all from insiders.
At the midpoint of the revised range, SeaWorld Entertainment will
raise 30% greater proceeds than previously anticipated.