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Diamond Resorts International Inc Announces Closing of Initial Public Offering and Exercise of Underwriters Option to Purchase Additional Shares


Wednesday, 24 Jul 2013 05:30pm EDT 

Diamond Resorts International Inc announced the closing of its previously announced initial public offering of an aggregate of 17,825,000 shares of common stock at the initial public offering price of $14.00 per share. In the offering, the Company sold 16,100,000 shares of common stock, and a selling stockholder sold 1,725,000 shares of common stock, which includes 2,100,000 shares issued and sold by the Company and 225,000 shares sold by the selling stockholder as a result of the full exercise by the underwriters of their over-allotment option. The net proceeds to the Company were $210,185,500 before deducting offering expenses payable by the Company. The shares began trading on the New York Stock Exchange under the symbol DRII on July 19, 2013. Credit Suisse, BofA Merrill Lynch, J.P. Morgan and Guggenheim Securities acted as joint book-running managers, and Cantor Fitzgerald & Co. acted as co-manager. 

Company Quote

24.53
0.12 +0.49%
1:27pm EDT