LAS VEGAS, Nov. 9 /PRNewswire-FirstCall/ -- MGM Resorts
International (NYSE: MGM) today announced that Barclays Capital
Inc. has exercised in full its option to purchase an additional
6,135,000 shares of common stock from the Company and an additional
4,167,300 shares of common stock from Tracinda Corporation at a
price of $12.52 per share. The
Company will receive $76,810,200 in
net proceeds from the exercise of the over-allotment option. The
closing of the over-allotment option is expected to take place on
November 12, 2010, subject to
customary closing conditions.
The common stock is being offered pursuant to the Company's
effective shelf registration statement on file with the Securities
and Exchange Commission (the "SEC"). A copy of the prospectus
supplement and related base prospectus for the offering has been
filed with the SEC and is available on the SEC's website,
www.sec.gov. Alternatively, copies of the prospectus
supplement and the related base prospectus for the offering may be
obtained for free by contacting Barclays Capital, c/o Broadridge
Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, (888) 603-5847 or
email Barclaysprospectus@broadridge.com.
This press release shall not constitute an offer to sell, or the
solicitation of an offer to buy, nor shall there be any sale of
these securities in any state or other jurisdiction in which such
offer, solicitation or sale would be unlawful prior to the
registration or qualification under the securities laws of any such
state or other jurisdiction.
Statements in this release which are not historical facts are
"forward looking" statements and "safe harbor statements" within
the meaning of Section 21E of the U.S. Securities Exchange Act of
1934, as amended, and other related laws that involve risks and/or
uncertainties, including risks and/or uncertainties as described in
the Company's public filings with the Securities and Exchange
Commission. We have based those forward-looking statements on
management's current expectations and assumptions and not on
historical facts. Examples of these statements include, but
are not limited to, statements regarding the Company's expectations
to close the over-allotment option. These forward-looking
statements involve a number of risks and uncertainties. Among
the important factors that could cause actual results to differ
materially from those indicated in such forward-looking statements
include market conditions for corporate debt and equity generally,
for the securities of gaming, hospitality and entertainment
companies and for the Company's indebtedness and common stock in
particular. In providing forward-looking statements, the
Company is not undertaking any duty or obligation to update these
statements publicly as a result of new information, future events
or otherwise except as required by law.
SOURCE MGM Resorts International
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