Blackstone (BX)-Sponsered SeaWorld (SEAS) Files for $100M IPO

December 27, 2012 6:16 AM EST Send to a Friend
Blackstone (NYSE: BX)-sponsored SeaWorld Entertainment, Inc. (NYSE: SEAS)(Nasdaq: SEAS) filed a registration with the U.S. Securities and Exchange Commission for an Initial Public Offering of its Common Stock. The proposed maximum offering price is $100 million. SeaWorld has not applied to a specific exchange, but plans to list under the ticker, "SEAS."

The offering is being made through Goldman, Sachs & Co., J.P. Morgan, Citigroup, BofA Merrill Lynch, Barclays, and Wells Fargo Securities.

Brief financial summary from the Company: "During the 12 months ended September 30, 2012, we hosted more than 24 million guests in our theme parks, including approximately 2.7 million international guests from over 55 countries and six continents, and generated an estimated 5.6 billion impressions through television and digital platforms. In the year ended December 31, 2011 and the nine months ended September 30, 2012, we had total revenues of $1,330.8 million and $1,160.6 million, respectively. Our strong revenue and operating performance and stable profit margins, combined with our disciplined approach to capital expenditures and working capital management, enable us to generate strong and recurring cash flow."

SeaWorld is "a leading theme park and entertainment company delivering personal, interactive and educational experiences that blend imagination with nature and enable our customers to celebrate, connect with and care for the natural world we share," according to the initial SEC filing.


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