Hi Thrill Seekers,
Last Thursday (as we reported) our friends at SeaWorld raised $702 million by completing its IPO. SeaWorld owned by the Blackstone Group sold 10 million shares at $27 apiece valuing the theme park at $2.5 Billion. A further 16 million were sold by Blackstone themselves.
Blackstone who purchased SeaWorld from brewer Anheuser Busch in December 2009 for $2.3 billion, is set to make back 2.6 times its original investment.
From what we are hearing SeaWorld plans to use the money generated to pay off loans it owes to Blackstones credit arm and to possibly improve the park.
On the opening day of SeaWorld stock climbed 24.2%. SeaWorld generated $1.4 billion in revenue last year and earned $77.4 million in profit.