Business
Red Rock Resorts, Inc. Announces Final Results of Modified Dutch Auction Tender Offer
LAS VEGAS, Dec. 14, 2021 /PRNewswire/ -- Red Rock Resorts, Inc. (the "Company" or "RRR") (NASDAQ: RRR) today announced final results of its "modified Dutch
About this update from Red Rock Resorts, Inc.
[{"type":"text","content":"LAS VEGAS, Dec. 14, 2021 /PRNewswire/ -- Red Rock Resorts, Inc. (the \"Company\" or \"RRR\") (NASDAQ: RRR) today announced final results of its \"modified Dutch auction\" tender offer which expired at 12:00 midnight, New York City time, at the end of the day on December 9, 2021.\nBased on the final count by American Stock Transfer & Trust Company, LLC, the depositary for the tender offer (the \"Depositary\"), a total of 6,884,858 shares of RRR's Class A Common Stock, par value $0.01 per share (each, a \"Share\"), were properly tendered and not properly withdrawn at or below a purchase price of $51.50 per Share.\nIn accordance with the terms and conditions of the tender offer, RRR accepted for purchase an aggregate of 6,884,858 shares, representing approximately 10.08% of the shares issued and outstanding, or 6.08% of the total number of Shares outstanding assuming exchange of all shares of the Company's Class B Common Stock and limited liability interests in Station Holdco LLC, as of December 9, 2021, at a purchase price of $51.50 per share, for an aggregate cost of approximately $354.6 million, excluding fees and expenses related to the tender offer. Included in the 6,884,858 Shares that RRR accepted for purchase are 88,742 Shares that RRR elected to purchase pursuant to its right to purchase up to an additional 2% of its outstanding Shares. As RRR accepted for purchase all of the Shares which were properly tendered and not properly withdrawn at a price at or below $51.50, there is no proration factor. The Depositary will promptly pay for all the Shares accepted for purchase. Payment for Shares purchased will be made in cash, less any applicable withholding taxes and without interest.\nBofA Securities, Inc. acted as dealer manager for the tender offer and D.F. King & Co., Inc. acted as information agent for the tender offer. Stockholders who have questions or would like additional information about the tender offer may contact D.F. King toll-free at (800) 331-7543; banks and brokers may call D.F. King at (212) 269-5550 or BofA Securities, Inc. at (888) 803-9655.\nAbout Red Rock Resorts, Inc.\nRed Rock Resorts, Inc. is a holding company that owns an indirect equity interest in and manages Station Casinos LLC (\"Station LLC\"). Station LLC is the leading provider of gaming and entertainment to the residents of Las Vegas, Nevada. ...