The owners of Miami-based cruise company Norwegian Cruise Line are looking to raise up to USD 962.7 million through a public offering.
The previously announced secondary public offering of over 18.8 million of ordinary shares by certain funds affiliated with Apollo Global Management and Star NCLC Holdings.
The offering, which was priced at USD 51 per ordinary share, is expected to close on or about December 3, 2018, subject to customary closing conditions. Norwegian did not sell any ordinary shares in the offering and will not receive any of the proceeds from the offering.
Concurrently with and subject to completion of the offering, Norwegian has agreed to repurchase from the underwriter ordinary shares that are being sold by the selling shareholders in the offering having an aggregate purchase price of USD 85 million at a price per share equal to the price per share. The share repurchase is part of Norwegian’s existing USD 1 billion share repurchase program.
The company informed that a registration statement relating to Norwegian’s ordinary shares was previously filed with the SEC and became effective upon filing.