LAS VEGAS--(BUSINESS WIRE)--Diamond Resorts International, Inc. announced today that it has priced its initial public offering of 15,500,000 shares of its common stock at a price of $14.00 per share. The company is selling 14,000,000 of these shares of common stock and a selling stockholder is selling the remaining 1,500,000 shares of common stock. In addition, the company and the selling stockholder have granted to the underwriters a 30-day option to purchase up to 2,100,000 additional shares from the company and up to 225,000 additional shares from the selling stockholder at the initial public offering price, less the underwriting discounts and commissions, to cover over-allotments, if any.
The shares are expected to begin trading on the New York Stock Exchange under the symbol “DRII” on July 19, 2013, and the offering is expected to close on or about July 24, 2013, subject to customary closing conditions.
Credit Suisse, BofA Merrill Lynch, J.P. Morgan and Guggenheim Securities are acting as joint book-running managers, and Cantor Fitzgerald & Co. is acting as co-manager.
The offering will be made only by means of a prospectus. Copies of the prospectus related to the offering may be obtained from the offices of Credit Suisse Securities (USA) LLC, Attention: Prospectus Department, One Madison Avenue, New York, New York 10010, or by telephone at +1 (800) 221-1037, or by email at email@example.com.
A registration statement relating to these securities was declared effective by the Securities and Exchange Commission. 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.
About Diamond Resorts International®
Diamond Resorts International® is a global leader in the hospitality and vacation ownership industry, with an ownership base of more than 490,000 owner-families and a worldwide network of 296 vacation destinations located in 32 countries throughout the continental United States, Hawaii, Canada, Mexico, the Caribbean, Central America, South America, Europe, Asia, Australia and Africa.