This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

ClubCorp Holdings, Inc. Announces Pricing Of Its Initial Public Offering

DALLAS, Sept. 19, 2013 /PRNewswire/ -- ClubCorp Holdings, Inc. ("ClubCorp"), a leading owner-operator of private golf and country clubs, business, sports and alumni clubs in North America, today announced the pricing of an initial public offering of 18,000,000 shares of its common stock at $14.00 per share. 

ClubCorp is offering 13,200,000 shares to be sold in the offering and a selling stockholder affiliated with KSL Capital Partners, LLC is offering an additional 4,800,000 shares to be sold in the offering. The selling stockholder has granted the underwriters a 30-day option to purchase up to an additional 2,700,000 shares at the initial public offering price. The shares are expected to begin trading on the New York Stock Exchange on September 20, 2013, under the ticker symbol "MYCC," and the offering is expected to close on September 25, 2013, subject to customary closing conditions. 

ClubCorp will receive net proceeds 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 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. are acting as joint bookrunners in the offering. Wells Fargo Securities, LLC and Stephens Inc. are acting as co-managers in the offering.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

Chart of I:DJI
DOW 17,689.86 -56.12 -0.32%
S&P 500 2,103.84 -4.79 -0.23%
NASDAQ 5,128.2810 -0.5040 -0.01%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs