ORLANDO, Fla.--(BUSINESS WIRE)--
Hilton
Grand Vacations Inc. (NYSE:HGV) announced today 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.
Forward-Looking Statements
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.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170920006362/en/
Hilton Grand Vacations Inc.
Investor Contact:
Robert
LaFleur, +1-407-613-3327
RLafleur@hgvc.com
or
Media
Contact:
Erin Pagán, +1-407-613-3771
EPagan@hgvc.com
Source: Hilton Grand Vacations Inc.