DALLAS, Sept. 25, 2013 /PRNewswire/ -- ClubCorp Holdings,
Inc. (NYSE: MYCC) ("ClubCorp"), a leading owner-operator of private
golf and country clubs, business, sports and alumni clubs in
North America, today announced the
closing of its previously announced initial public offering of
18,000,000 shares of common stock at a price to the public of
$14.00 per share.
ClubCorp issued and sold 13,200,000 shares of common stock in
the offering and a selling stockholder affiliated with KSL Capital
Partners, LLC offered and sold 4,800,000 shares of common stock in
the offering.
The offering raised proceeds to ClubCorp of approximately
$168.8 million, after deducting
underwriting discounts and commissions and estimated offering
expenses payable by ClubCorp. ClubCorp will not receive any
of the proceeds from the sale of the shares sold by the selling
stockholder. ClubCorp intends to use a portion of the net
proceeds from the offering to redeem $145.25
million in aggregate principal amount of the 10% Senior
Notes due 2018 issued by its subsidiary, ClubCorp Club Operations,
Inc., at a redemption price of 110.0%, plus accrued and unpaid
interest thereon. In addition, ClubCorp intends to use a
portion of the net proceeds from the offering and cash on hand to
make a one-time payment of $5.0
million to an affiliate of KSL Capital Partners, LLC in
connection with the termination of a management agreement.
Goldman, Sachs & Co., Jefferies LLC, Citigroup Global
Markets Inc., BofA Merrill Lynch and Deutsche Bank Securities Inc.
acted as joint bookrunners in the offering. Wells Fargo Securities,
LLC and Stephens Inc. acted as co-managers in the offering.
A registration statement relating to the shares of the common
stock of ClubCorp sold in the offering was declared effective on
September 19, 2013 by the U.S.
Securities and Exchange Commission. This press release does not
constitute an offer to sell or a solicitation of an offer to buy
the securities described above, nor shall there be any sale of such
shares of common stock in any state or jurisdiction in which such
offer, solicitation, or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state or jurisdiction.
The offering of these securities will be made only by means of a
prospectus, copies of which may be obtained from Goldman, Sachs
& Co. at Prospectus Department, 200 West Street, New York, NY 10282 or by telephone at
866-471-2526 or by facsimile at 212-902-9316 or by email at
prospectus-ny@ny.email.gs.com, Jefferies LLC at c/o 520 Madison
Avenue, 12th Floor, New York, NY,
10022, Attention: Equity Syndicate Prospectus Department or by
telephone at 877-547-6340 or by email at
Prospectus_Department@Jefferies.com, Citigroup Global Markets Inc.
at c/o Broadridge Financial Solutions, 1155 Long Island Avenue,
Edgewood, NY 11717 or by telephone
at 800-831-9146, BofA Merrill Lynch at 222 Broadway, New York NY 10038, Attention: Prospectus
Department or by email at dg.prospectus_requests@baml.com or by
telephone at 1-800-294-1322 and Deutsche Bank Securities Inc. at 60
Wall Street, New York, New York
10005, Attention: Prospectus Group or by telephone at 800-503-4611
or by email at prospectus.cpdg@db.com.
SOURCE ClubCorp Holdings, Inc.