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Red Rock Resorts, Inc. Announces Commencement of Cash Tender Offer to Purchase Shares of its Class A Common Stock for an Aggregate Purchase Price of Not More than $350,000,000 at Price Not Greater Than $53.00 nor Less Than $46.00 per Share; Declares S...
Red Rock Resorts, Inc. Announces Commencement of Cash Tender Offer to Purchase Shares of its Class A Common Stock for an Aggregate Purchase Price of Not More
About this update from Red Rock Resorts, Inc.
[{"type":"text","content":"Red Rock Resorts, Inc. Announces Commencement of Cash Tender Offer to Purchase Shares of its Class A Common Stock for an Aggregate Purchase Price of Not More than $350,000,000 at Price Not Greater Than $53.00 nor Less Than $46.00 per Share; Declares Special Dividend of $3.00 per share of Class A Common Stock \n \n\nLAS VEGAS, Nov. 10, 2021 /PRNewswire/ -- Red Rock Resorts, Inc. (the \"Company\" or \"RRR\") (NASDAQ: RRR) today announced that it commenced a \"modified Dutch Auction\" tender offer to purchase up to $350,000,000 in aggregate purchase price of its issued and outstanding shares of Class A Common Stock, par value $0.01 per share (each, a \"Share,\" and collectively, the \"Shares\"), or such lesser aggregate purchase price of Shares as are properly tendered and not properly withdrawn, at a price not greater than $53.00 nor less than $46.00 per Share to the seller in cash, less any applicable withholding taxes and without interest. The tender offer is being made in accordance with the terms and subject to the conditions described in the offer to purchase, the related letter of transmittal and other related materials, as each may be amended or supplemented from time to time.\nThe closing price of the Shares on the NASDAQ Stock Market on November 9, 2021, the last full trading day before the commencement of the tender offer, was $48.99 per Share. The tender offer is scheduled to expire at 12:00 Midnight, at the end of the day, New York City time, on December 9, 2021, unless the offer is extended or terminated. Promptly after the expiration date, RRR will, on the terms and subject to the conditions described in the offer to purchase, determine the single per-Share purchase price that RRR will pay, subject to \"odd lot\" priority, proration and conditional tender provisions, for Shares properly tendered at or below the purchase price in the offer and not properly withdrawn, and accepted for payment, taking into account the number of Shares tendered pursuant to the offer and the prices specified, or deemed specified, by the tendering shareholders. The purchase price will be the lowest price per Share (in increments of $0.25) of not greater than $53.00 and not less than $46.00 per Share, at which Shares have been properly tendered, or deemed properly tendered, and not properly withdrawn, that will enable RRR to purchase the ma...