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Caesars Entertainment Corp and Caesars Acquisition Company Announce Closing of Rights Offering

Monday, 18 Nov 2013 05:34pm EST 

Caesars Entertainment Corp and Caesars Acquisition Company ("CAC") announced that the offering of Class A common stock ("Class A Common Stock") of CAC to holders of subscriptions rights closed on November 18, 2013. CAC distributed a total of 135,771,882 shares of its Class A Common Stock to holders of subscription rights who validly exercised their subscription rights and paid the subscription price in full, including pursuant to the exercise of the over-subscription privilege. Any subscription rights that were unexercised, including those that were retained, are void, of no value and have ceased to be exercisable for shares of Class A Common Stock. As a result of the offering, CAC received aggregate gross proceeds of approximately $1,173.1 million. Caesars expects that the Class A Common Stock will begin trading on the Nasdaq Global Select Market under the symbol "CACQ" on November 19, 2013. CAC is a newly formed company created to facilitate the previously announced strategic transaction pursuant to which Caesars has formed a new growth-oriented entity, Caesars Growth Partners, LLC ("Growth Partners"), to be owned by Caesars and CAC. Upon the consummation of the offering, CAC owns approximately 42.4% of the economic interests of Growth Partners, and Caesars owns approximately 57.6% of the economic interests of Growth Partners. 

Company Quote

-0.03 -0.30%
22 May 2015