ORLANDO, FL (Sept. 22, 2017)
ilton Grand Vacations Inc. (NYSE:HGV) announced yesterday that certain selling stockholders affiliated with The Blackstone Group L.P. informed HGV that they have agreed to sell 5,110,000 shares of HGV common stock to certain investors at a price per share of $35.91. The shares were offered in privately negotiated transactions pursuant to HGV’s effective shelf registration statement. The offering is expected to close on or prior to September 25, 2017.
HGV did not offer any shares of common stock and will not receive any proceeds from the sale of shares pursuant to this transaction. In addition, none of HGV’s officers or directors sold any shares of common stock beneficially owned by them in this transaction.
Following the closing of the offering and related distributions of the remaining 20,165 shares of HGV common stock by funds affiliated with The Blackstone Group L.P. to their respective partners, The Blackstone Group L.P. and its affiliated funds will no longer beneficially own any shares of HGV common stock.
The offering of these securities was being made pursuant to an effective registration statement on Form S-1 filed on May 25, 2017 with the Securities and Exchange Commission (the “SEC”). The offering was made by means of the prospectus, dated June 7, 2017 as supplemented by the prospectus supplement dated August 14, 2017. A copy of the prospectus and prospectus supplement relating to these securities may be obtained at the SEC’s website at http://www.sec.gov or from HGV, 6355 MetroWest Boulevard, Suite 180, Orlando, Florida 32835, Attention: Investor Relations, telephone: 1-407-613-3100.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities 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.
This document contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements include, but are not limited to, statements related to our expectations regarding the performance of our business, our financial results, our liquidity and capital resources and other non-historical statements. You can identify these forward-looking statements by the use of words such as “outlook,” “believes,” “expects,” “potential,” “continues,” “may,” “will,” “should,” “could,” “seeks,” “approximately,” “projects,” “predicts,” “intends,” “plans,” “estimates,” “anticipates” or the negative version of these words or other comparable words. Such forward-looking statements are subject to various risks and uncertainties, including, among others, risks inherent to the timeshare industry, risks related to financing transactions expected to be consummated in connection with the spin-off, macroeconomic factors beyond our control, competition for timeshare sales, risks related to doing business with third-party developers, performance of our information technology systems, risks of doing business outside of the U.S., our indebtedness, and risks associated with operating as an independent publicly-traded company, as well as those described under the section entitled “Risk Factors” of our Annual Report on Form 10-K for the year ended December 31, 2016, filed with the SEC, as such factors may be updated from time to time in our periodic filings with the SEC, which are accessible on the SEC’s website at www.sec.gov. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this release and in our filings with the SEC. We undertake no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as required by law.
About Hilton Grand Vacations Inc.
Hilton Grand Vacations Inc. (NYSE:HGV) is recognized as a leading global timeshare company. With headquarters in Orlando, Fla., Hilton Grand Vacations develops, markets and operates a system of brand-name, high-quality vacation ownership resorts in select vacation destinations. The Company also manages and operates two innovative club membership programs: Hilton Grand Vacations Club® and The Hilton Club®, providing exclusive exchange, leisure travel and reservation services for more than 275,000 Club Members. For more information, visit www.hgv.com and www.hiltongrandvacations.com
PRESS RELEASE SOURCE: Hilton Grand Vacations, Inc.