SeaWorld Parks Files for IPO

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SeaWorld Entertainment Inc., wholly owned by The Blackstone Group L.P. (NYSE: BX), has filed for an initial public offering (IPO) aiming to raise $100 million. The exact number of shares to be offered and their selling price, as well as the IPO date, have not yet been determined.

Managing the IPO are co-managers Goldman Sachs Group Inc. (NYSE: GS), J.P. Morgan Chase & Co. (NYSE: JPM), Bank of America Corp. (NYSE: BAC), Barclays PLC (NYSE: BCS), and Wells Fargo & Co. (NYSE: WFC).

SeaWorld owns and operates 11 theme parks across the United States, which collectively attracted 24 million visitors in the 12 months leading up to September. The company plans to trade its stock under the symbol SEAS, although the specific exchange has not been disclosed.

Despite the IPO, Blackstone will retain majority voting rights in SeaWorld. The proceeds from the offering will primarily be used to pay off debt, make a one-time payment to a Blackstone affiliate, and for general corporate purposes.

SeaWorld’s move to go public comes amid efforts to restructure its financial position and capitalize on renewed interest in leisure and entertainment sectors post-pandemic.

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