Viacom (VIA.B) Prices National Amusements 19.3M Offering at $28.25/share
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Viacom Inc. (NYSE: VIA) (NYSE: VIA.B) today announced the pricing of an underwritten public offering of 19,382,945 shares of Viacom's Class B common stock offered by National Amusements, Inc. (NAI). The offering was priced at $28.25 per share, resulting in gross offering proceeds to NAI of approximately $547.6 million (and could increase to approximately $602.3 million if the underwriters' 30-day over-allotment option is exercised in full). The offering is expected to close on or about October 20, 2009, subject to customary closing conditions.
Viacom will not receive any of the proceeds from the offering.
Following the closing of the offering, and assuming the over-allotment option is exercised in full, NAI will continue to have voting control of Viacom and is expected to own approximately 79.87% of the voting Class A common stock. NAI will not own any shares of the non-voting Class B common stock.
Citi is acting as sole-bookrunner and joint-lead manager for the offering, and J.P. Morgan is acting act as joint-lead manager for the offering.
Viacom will not receive any of the proceeds from the offering.
Following the closing of the offering, and assuming the over-allotment option is exercised in full, NAI will continue to have voting control of Viacom and is expected to own approximately 79.87% of the voting Class A common stock. NAI will not own any shares of the non-voting Class B common stock.
Citi is acting as sole-bookrunner and joint-lead manager for the offering, and J.P. Morgan is acting act as joint-lead manager for the offering.
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