Sinclair Prices Common Stock Offering
Sinclair Broadcast Group announced today that it has priced an underwritten public offering of 18 million primary shares of Class A common stock at a price to the public of $27.25 per share.
Certain selling stockholders also granted the underwriters a 30-day option to purchase up to an additional 2.7 million shares of Class A common stock on the same terms and conditions.
The offering is expected to close on May 7, subject to customary closing conditions. The net proceeds are intended to fund pending and future potential acquisitions and for general corporate purposes, the company said.
Wells Fargo Securities and J.P. Morgan acted as joint book-running managers for the offering. Deutsche Bank, RBC Capital Markets, and SunTrust Robinson Humphrey acted as co-managers of the offering.