Published:
Hyatt Hotels Corporation Announces Exercise of Option to Purchase Additional Shares
CHICAGO - (BUSINESS WIRE) - Hyatt Hotels Corporation ("Hyatt" or the "Company" ) (NYSE: H) announced
today that in connection with the Company's initial public offering the
underwriters have exercised in full their option to purchase 5,700,000
shares of Class A common stock from the Company at the initial public
offering price of $25.00 per share. Hyatt expects to receive net
proceeds of approximately $127.3 million from the sale of the shares,
after deducting the underwriting discount and estimated offering
expenses payable by the Company. Hyatt intends to use the net proceeds
primarily for working capital and other general corporate purposes. The
option to purchase additional shares was granted in connection with the
Company's initial public offering of 38,000,000 shares of Class A common
stock to be sold by certain existing stockholders of the Company. Hyatt
will not receive any of the proceeds from the sale of shares of Class A
common stock by the selling stockholders.
The sole bookrunning manager and lead managing representative of the
offering is Goldman, Sachs & Co., with Deutsche Bank Securities Inc. and
J.P. Morgan Securities Inc. acting as joint lead managers. This offering
will be made only by means of a written prospectus forming part of the
effective registration statement relating to these securities. Copies of
the prospectus may be obtained by contacting Goldman, Sachs & Co., 85
Broad Street, New York, NY 10004, Attention: Prospectus Department (Tel:
+1 866 471 2526; Fax: +1 212 902 9316; e-mail: prospectus-ny@ny.email.gs.com).
A registration statement on Form S-1 relating to the initial public
offering of shares of Hyatt's Class A common stock was declared
effective by the U.S. Securities and Exchange Commission (the "SEC" ) on
November 4, 2009. Copies of the registration statement can be accessed
through the SEC's website at www.sec.gov.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of these
securities in any jurisdiction in which such offer, solicitation or sale
would be unlawful prior to registration or qualification under the
securities laws of any such jurisdiction.
Farley Kern
Hyatt Hotels Corporation
+1 312 780 5506
farley.kern@hyatt.com
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