Playa Hotels & Resorts N.V. Announces Pricing of Upsized Secondary Offering of 13,575,739 Ordinary Shares by Selling Shareholders
FAIRFAX, Va., Nov. 18, 2020 (GLOBE NEWSWIRE) -- Playa Hotels & Resorts N.V. (NASDAQ: PLYA) (“Playa”) today announced the pricing of an upsized underwritten secondary offering of 13,575,739 of
its Ordinary Shares by certain selling shareholders (the “Selling Shareholders”) affiliated with Farallon Capital Management, L.L.C. (collectively, the “Farallon Funds”), at a public offering price
of $4.10 per Ordinary Share, which is expected to result in gross proceeds to the Selling Shareholders of approximately $55.7 million (assuming no exercise of the underwriter’s option to purchase
up to 2,036,361 additional Ordinary Shares). The offering was upsized from the previously announced 12,500,000 Ordinary Shares. The offering is expected to close on November 23, 2020, subject
to customary closing conditions. Upon consummation of the offering for the proposed number of shares offered, excluding any exercise of the option described above, the Farallon Funds’ aggregate
beneficial ownership interest in Playa will be reduced to approximately 13%.
Playa did not offer any Ordinary Shares in the offering and will not receive any proceeds from the sale of Ordinary Shares by the Selling Shareholders in the offering. In addition, none of Playa’s officers or directors sold any Ordinary Shares in the offering.
BofA Securities is serving as sole underwriter for the offering.
The offering of these securities is being made pursuant to an effective shelf registration statement. This offering will be made only by means of a prospectus and prospectus supplement. A copy of the prospectus supplement, when available, and the prospectus relating to the offering may be obtained by visiting EDGAR on the SEC’s website at www.sec.gov or by contacting: BofA Securities, NC1-004-03-43, 200 North College Street, 3rd floor, Charlotte NC 28255-0001, Attn: Prospectus Department Email: firstname.lastname@example.org.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Playa Hotels & Resorts N.V.
Playa Hotels & Resorts N.V. is a leading owner, operator and developer of all-inclusive resorts in prime beachfront locations in popular vacation destinations in Mexico and the Caribbean. Playa owns and/or manages a total portfolio consisting of 21 resorts (8,172 rooms) located in Mexico, Jamaica, and the Dominican Republic. In Mexico, Playa owns and manages Hyatt Zilara Cancun, Hyatt Ziva Cancun, Panama Jack Resorts Cancun, Panama Jack Resorts Playa del Carmen, Hilton Playa del Carmen, Hyatt Ziva Puerto Vallarta and Hyatt Ziva Los Cabos. In Jamaica, Playa owns and manages Hyatt Zilara Rose Hall, Hyatt Ziva Rose Hall, Hilton Rose Hall Resort & Spa, Jewel Grande Montego Bay Resort & Spa and Jewel Paradise Cove Beach Resort & Spa. In the Dominican Republic, Playa owns and manages the Hilton La Romana, Hyatt Ziva Cap Cana and Hyatt Zilara Cap Cana. Playa also owns four resorts in Mexico and the Dominican Republic that are managed by a third party and Playa manages the Sanctuary Cap Cana, in the Dominican Republic.