Gaylord Entertainment Company Announces Pricing of Offering of Common Stock By Selling Stockholders
NASHVILLE--(BUSINESS WIRE)--April 28, 2004--Gaylord Entertainment Company (NYSE: GET) today announced the public offering of 7,019,162 shares of common stock at a price of $31.75 per share. All of the shares are being sold by selling stockholders. The underwriters for the offering also have a 30-day over-allotment option to purchase up to 1,052,874 additional shares of common stock from the selling stockholders.
The selling stockholders include the E.L. and Thelma Gaylord Foundation, certain members of the Gaylord family and a Gaylord family business. The selling stockholders stated that the purpose of the offering is to allow the individual selling stockholders and the Gaylord family business the opportunity to diversify their investment portfolio, and the Foundation to fund its charitable efforts. The Company will receive no proceeds from the offering.
The common stock offering is being underwritten by Deutsche Bank Securities Inc., J.P. Morgan Securities Inc., JMP Securities LLC and Morgan Keegan & Company, Inc.
Copies of the prospectus relating to the offering may be obtained by contacting Deutsche Bank Securities Inc., 60 Wall Street, New York, NY 10005 or J.P. Morgan Securities Inc., 277 Park Avenue, New York, NY 10172.
This press release does not constitute an offer to sell, or a solicitation of an offer to buy, any securities of the Company.
Forward-Looking Statements
The foregoing statements regarding the selling stockholders' intentions with respect to the contemplated common stock offering are forward-looking statements under the Private Securities Litigation Reform Act of 1995, and actual results could vary materially from the statements made. The selling stockholders' ability to complete the offering successfully is subject to various risks, many of which are outside of their control, including prevailing conditions in the capital markets and other risks and uncertainties as detailed from time to time in the reports filed by the Company with the Securities and Exchange Commission.
About Gaylord Entertainment
Gaylord Entertainment, a leading hospitality and entertainment company based in Nashville, Tenn., owns and operates three industry-leading brands - Gaylord Hotels (www.gaylordhotels.com), its network of upscale, meetings-focused resorts; ResortQuest International (www.resortquest.com), the nation's largest vacation rental property management company; and the Grand Ole Opry (www.opry.com), the weekly showcase of country music's finest performers for 78 consecutive years. The Company's entertainment brands and properties include the Radisson Hotel Opryland, Ryman Auditorium, General Jackson Showboat, Springhouse Golf Club, Wildhorse Saloon and WSM-AM. For more information about the Company, visit www.gaylordentertainment.com.
CONTACT: Investor Relations:
David Kloeppel, CFO
Gaylord Entertainment
(615) 316-6101
dkloeppel@gaylordentertainment.com
or
Jason Morgan, VP Strategic Planning
and Investor Relations
Gaylord Entertainment
(615) 316-6561
jmorgan@gaylordentertainment.com
or
Monica Huang
Sloane & Company
(212) 446-1874
mhuang@sloanepr.com
or
Media:
Greg Rossiter, VP of Corporate Communications
Gaylord Entertainment
(615) 316-6302
grossiter@gaylordentertainment.com
or
Dan O'Connor
Sloane & Company
(212) 446-1865
doconnor@sloanepr.com
SOURCE: Gaylord Entertainment Company