18 million Class A shares to be available at $27.25 each
Sinclair Broadcast Group, Inc. announced Thursday that it has priced an underwritten public offering of 18 million primary shares of Class A common stock at a price to the public of $27.25 per share. Certain selling stockholders also granted the underwriters a 30-day option to purchase up to an additional 2.7 million shares of Class A common stock on the same terms and conditions.
The offering is expected to close on May 7, 2013, subject to customary closing conditions. The net proceeds are intended to fund pending and future potential acquisitions and for general corporate purposes.
The Class A shares were offered pursuant to an effective shelf registration statement previously filed with the Securities and Exchange Commission (SEC).
Sinclair owns and/or operates a large number of TV stations across the country, including the following stations which may be seen in fringe areas of the Tri-State: KBSI-FOX 23 (Cape Girardeau, Mo.), WDKA-My49 (Paducah, Ky.), KDNL-ABC 30 (St. Louis), and Nashville stations WZTV-FOX 17, WUXP-My30 and WNAB-CW58.