Las Vegas Sands (LVS) Chairman/CEO Adelson Sinks $475M Into The Company
Late Tuesday, Las Vegas Sands (NYSE: LVS) announced that Chairman/CEO and principal stockholder Sheldon G. Adelson, and his family, completed an investment in the company of $475 million in convertible senior notes in a private transaction.
The convertible senior notes mature on October 1, 2013, pay cash interest at 6.5% and are convertible into common stock at a price of $49.65.
Mr. Adelson said, "While the credit markets are experiencing turbulence, our strategy remains alive and well and our business continues to march forward. Little of our fundamental business strategy has changed and this investment will strengthen our capitalization and liquidity position as we continue to execute our plans."
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