Sinclair Broadcast Group, Inc. (SBGI) said Thursday that it has priced an underwritten public offering of 18.0 million primary shares of Class A common stock at a price to the public of $27.25 per share.
Certain selling stockholders also granted the underwriters a 30-day option to purchase up to an additional 2.7 million shares of Class A common stock on the same terms and conditions.
The offering is expected to close on May 7.
The net proceeds are intended to fund pending and future potential acquisitions and for general corporate purposes.
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