Onex Takes Emerald Expositions Public
(firmenpresse) - TORONTO, ONTARIO -- (Marketwired) -- 04/27/17 -- All amounts in U.S. dollars unless otherwise stated
Emerald Expositions Events, Inc. ("Emerald Expositions") announced the pricing of its initial public offering of 15,500,000 shares of its common stock at a public offering price of $17.00 per share. Emerald Expositions is selling 10,333,333 of those shares and Onex Corporation ("Onex") (TSX: ONEX) and its affiliates (the "Onex Group") are selling 5,166,667 shares. The underwriters were granted a 30-day option to purchase up to 2,325,000 additional shares of common stock from the Onex Group.
Emerald Expositions'' common stock is expected to begin trading on April 28, 2017 on the New York Stock Exchange under the symbol "EEX". The offering is expected to close on May 3, 2017, subject to customary closing conditions.
At the offering price, proceeds to the Onex Group will be approximately $85 million of which Onex'' share will be approximately $22 million, including carried interest of $2 million. The Onex Group continues to hold approximately 56.1 million shares of Emerald Expositions for an economic interest of 78%. Onex continues to hold approximately 13.6 million shares for a 19% economic interest.
A registration statement relating to these securities was declared effective by the Securities and Exchange Commission on April 27, 2017. This news release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Onex
Onex is one of the oldest and most successful private equity firms. Through its Onex Partners and ONCAP private equity funds, Onex acquires and builds high-quality businesses in partnership with talented management teams. At Onex Credit, Onex manages and invests in leveraged loans, collateralized loan obligations and other credit securities. Onex has approximately $24 billion of assets under management, including $6 billion of Onex proprietary capital, in private equity and credit securities. With offices in Toronto, New York, New Jersey and London, Onex invests alongside its fund investors and is the largest limited partner in each of its private equity funds.
Onex'' businesses have assets of $44 billion, generate annual revenues of $29 billion and employ approximately 161,000 people worldwide. Onex shares trade on the Toronto Stock Exchange under the stock symbol ONEX. For more information on Onex, visit its website at . Onex'' security filings can also be accessed at .
This news release may contain forward-looking statements that are based on management''s current expectations and are subject to known and unknown uncertainties and risks, which could cause actual results to differ materially from those contemplated or implied by such forward-looking statements. Onex is under no obligation to update any forward-looking statements contained herein should material facts change due to new information, future events or otherwise.
Contacts:
Onex Corporation
Laura Carrigan
Director, Investor Relations
416.362.7711
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Datum: 27.04.2017 - 17:45 Uhr
Sprache: Deutsch
News-ID 1501096
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