Sabre Corporation today announced the pricing of the previously announced secondary public offering of 30,000,000 shares of common stock by existing stockholders affiliated with TPG Global, LLC and Silver Lake Management Company II, LLC (the “Selling Stockholders”), at a price to the public of $29.27 per share. All of the shares are being sold on a pro rata basis by the Selling Stockholders in accordance with their current interests, and the Selling Stockholders will receive all of the net proceeds from this offering. No shares are being sold by the company.
Subject to completion of the offering, Sabre will repurchase from the underwriter approximately $100 million of the 30,000,000 shares of common stock being sold by the Selling Stockholders. Sabre’s per-share purchase price for the repurchased shares will be the same as the per-share purchase price payable by the underwriter to the Selling Stockholders. Sabre expects to fund the share repurchase with the proceeds of an offering by its wholly-owned subsidiary, Sabre GLBL Inc., of 5.250% senior secured notes due 2023.
Morgan Stanley is acting as the sole underwriter for the offering.
A registration statement on Form S-3 (including a prospectus) relating to these securities has been filed with the Securities and Exchange Commission (the “SEC”) and is effective. Before you invest, you should read the prospectus in that registration statement and other documents the Company has filed with the SEC for more complete information about the Company and this offering. You may get these documents for free by visiting EDGAR on the SEC web site at www.sec.gov. Alternatively, copies of the prospectus and accompanying prospectus supplement related to this offering, when available, may be obtained from Morgan Stanley & Co. LLC, Attention: Prospectus department: 180 Varick Street, 2nd Floor, New York, NY 10014.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.