Breaking News from CNBC's Kayla Tausche: SeaWorld Prices IPO at $27/Share, Top of Expected Range
WHEN: Today, Thursday, April 18th
WHERE: CNBC's "Fast Money"
Following is the unofficial transcript of breaking news from CNBC's Kayla Tausche. All references must be sourced to CNBC.
KAYLA TAUSCHE: HEY MELISSA WE'RE JUST GETTING A PRICE ON THAT IPO WHICH IS SET TO START TRADING TOMORROW. IT'S 27 DOLLARS A SHARE – THAT'S THE HIGH END OF A RANGE THAT WAS PREVIOUSLY STATED TO BE 24 TO 27 DOLLARS A SHARE. IS SELLING 26 MILLION SHARES TOTAL, 702 MILLION DOLLARS RAISED. BUT INVESTOR DEMAND WAS SO HIGH THAT UNDERWRITERS GOLDMAN SACHS AND JPMORGAN DECIDED TO EXERCISE AN OVER ALLOTMENT FOR AN ADDITIONAL 3.9 MILLION SHARES ADDING ANOTHER 105 MILLION DOLLARS TO THOSE PROCEEDS. SO REALLY HIGH DEMAND FOR THAT SEAWORLD IPO. 27 DOLLARS A SHARE ON THE HIGH END OF THAT RANGE.
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