Seaport Entertainment Group Inc. has made an announcement on September 10, 2024, about a Rights Offering. The Rights Offering will provide existing stockholders with transferable subscription rights to purchase up to 7,000,000 shares of common stock. Stockholders as of September 20, 2024, will be able to buy new shares at a price of $25.00 per share, in proportion to their existing stake. If there are remaining unsubscribed shares, stockholders with over-subscription privileges can purchase more. Pershing Square Capital Management, L.P. is backing the Rights Offering by committing to buy any remaining shares up to $175 million, ensuring that the offering raises the expected amount.
Names mentioned: - Seaport Entertainment Group Inc. - Pershing Square Capital Management, L.P. - Lucy Fato (EVP, General Counsel & Corporate Secretary)