Bally's Corporation (BALY) Prices 11M Share Common Offering at $55/Sh

April 16, 2021 5:48 AM EDT
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Bally's Corporation (NYSE: BALY) today announced that it has priced its previously announced public offering of 11,000,000 shares of its common stock at $55.00 per share. The offering is expected to close on April 20, 2021, subject to customary closing conditions.

Bally's has granted the underwriters in the offering an option for a period of 30 days to purchase up to an additional 1,650,000 shares of common stock.

Bally's expects the net proceeds from the offering to be approximately $583.8 million (or $671.4 million if the underwriters exercise their option to purchase additional shares in full), after deducting underwriting discounts but before expenses. Bally's intends to apply the net proceeds from the offering to fund a portion of the cash consideration payable to shareholders of Gamesys Group plc ("Gamesys") upon consummation of the previously announced combination of Bally's and Gamesys (the "Combination"). If the Combination is not consummated, Bally's expects to apply the net proceeds from the offering for general corporate purposes, which may include repayment of debt, repurchases of its common stock, capital expenditures, acquisitions and investments.

Bally's common stock is listed on the New York Stock Exchange under the symbol "BALY."

Deutsche Bank Securities Inc., Goldman Sachs & Co. LLC and Barclays Capital Inc. are acting as the lead joint book-running managers for the offering. Citizens Capital Markets, Inc., Truist Securities, Inc., Fifth Third Securities, Inc. and Capital One Securities, Inc. are acting as the bookrunners for the offering. B. Riley Securities, Inc., BTIG, LLC, Cowen and Company, LLC, Craig-Hallum Capital Group LLC, KeyBanc Capital Markets Inc., Roth Capital Partners, LLC, Stifel, Nicolaus & Company, Incorporated and Union Gaming Securities, LLC are acting as co-managers for the offering.

A shelf registration statement relating to the common stock being offered in the offering has been filed with the Securities and Exchange Commission (the "SEC") and has become effective. The offering is being made only by means of an applicable preliminary prospectus supplement and accompanying prospectus.



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