Park Hotels & Resorts Inc. Announces Secondary Sales of up to 16,830,000 Shares of Common Stock
06 Novembre 2017 - 10:04PM
Business Wire
Park Hotels & Resorts Inc. (NYSE: PK) (“Park” or the
“Company”) announced today that certain selling stockholders (the
“Selling Stockholders”) affiliated with The Blackstone Group L.P.
have informed the Company that they intend to sell, subject to
market conditions, up to 16,830,000 shares of Park’s common stock
in privately negotiated transactions pursuant to Park’s effective
shelf registration statement. Following the closing of the sale of
such 16,830,000 shares in one or more transactions and related
distributions of the remaining 84,809 shares of Park’s common stock
held by the Selling Stockholders to their respective partners, The
Blackstone Group L.P. and its affiliated funds will no longer
beneficially own any shares of Park’s common stock.
Park is not offering any shares of common stock in this
transaction and will not receive any proceeds from the sale of
shares by the Selling Stockholders.
The Selling Stockholders have further advised the Company that
they are privately negotiating sales of the shares of common stock
directly with certain investors.
Park has filed a registration statement on Form S-11 (File No.
333-217745) with the Securities and Exchange Commission (the “SEC”)
for the transaction to which this communication relates. Before you
invest in Park securities, you should read the prospectus in that
registration statement and other documents Park has filed with the
SEC for more complete information about Park and this transaction.
You may get these documents for free by visiting EDGAR on the SEC
Web site at www.sec.gov. The current final prospectus, dated May
19, 2017, and supplements thereto dated June 1, 2017 (filed June 5,
2017), June 14, 2017, August 3, 2017, November 1, 2017 and November
3, 2017 are available on the SEC Web site through the following
respective links:
https://www.sec.gov/Archives/edgar/data/1617406/000119312517176798/d364947d424b3.htmhttps://www.sec.gov/Archives/edgar/data/1617406/000119312517194788/d400032d424b5.htmhttps://www.sec.gov/Archives/edgar/data/1617406/000119312517202936/d352589d424b3.htmhttps://www.sec.gov/Archives/edgar/data/1617406/000156459017015407/pk-424b3.htmhttps://www.sec.gov/Archives/edgar/data/1617406/000156459017020775/pk-424b3.htmhttps://www.sec.gov/Archives/edgar/data/1617406/000156459017021524/pk-424b3.htm
Alternatively, the Company will arrange to send you the
prospectus and supplements thereto if you request them by calling
toll-free at (800) 262-8408.
Nothing in this press release shall constitute a solicitation to
buy or sell or an offer to buy or sell securities. The sale of
shares in the proposed transaction will only be made pursuant to
Park’s effective registration statement referred to above.
About Park Hotels & Resorts
Inc.
Park Hotels & Resorts Inc. (NYSE: PK) is one of the largest
publicly traded lodging real estate investment trusts with a
diverse portfolio of market-leading hotels and resorts with
significant underlying real estate value. The Company’s portfolio
currently consists of 67 premium-branded hotels and resorts with
over 35,000 rooms located in prime U.S. and international markets
with high barriers to entry.
Special Note About Forward Looking
Statements
This press release contains forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. Forward-looking statements include, but are not limited
to, statements related to Park’s current expectations regarding the
performance of its business, financial results, liquidity and
capital resources, the effects of competition and other
non-historical statements. Forward-looking statements include all
statements that are not historical facts and, in some cases, can be
identified by the use of forward-looking terminology such as the
words “outlook,” “believes,” “expects,” “potential,” “continues,”
“may,” “will,” “should,” “could,” “seeks,” “projects,” “predicts,”
“intends,” “plans,” “estimates,” “anticipates” or the negative
version of these words or other comparable words. Forward-looking
statements involve risks, uncertainties and assumptions. Actual
results may differ materially from those expressed in these
forward-looking statements. You should not put undue reliance on
any forward-looking statements in this press release. Additional
factors that could cause Park’s results to differ materially from
those described in the forward-looking statements can be found
under the sections entitled “Forward-Looking Statements,” “Risk
Factors” and “Management's Discussion and Analysis of Financial
Condition and Results of Operations” (or similar captions) in
Park’s Annual Report on Form 10-K for the year ended December 31,
2016, filed with the SEC, as such factors may be updated from time
to time in Park’s periodic reports or other filings with the SEC,
which are accessible on the SEC’s website at www.sec.gov.
Forward-looking statements speak only as of the date on which they
are made and Park undertakes no obligation to update or revise
publicly any guidance or other forward-looking statement, whether
as a result of new information, future developments or otherwise,
except as required by law.
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version on businesswire.com: http://www.businesswire.com/news/home/20171106006368/en/
Park Hotels & Resorts Inc.Ian WeissmanSenior Vice President,
Corporate Strategy703-584-7441iweissman@pkhotelsandresorts.com
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