4.7 million common shares sold at $15 apiece to investor Nant Capital
By Devika Patel
Knoxville, Tenn., May 23 – Tribune Publishing Co. said it arranged a $70.5 million private placement of stock with Nant Capital, LLC.
The company will sell 4.7 million common shares at $15.00 per share, a 5.41% premium to the May 22 closing share price of $14.23.
In connection with the transaction, Nant Capital founder Dr. Patrick Soon-Shiong has been invited to join the Tribune Publishing board of directors as vice chairman beginning June 2.
Tribune Publishing is a Chicago-based newspaper publishing and local news and information gathering company.
| Issuer: | Tribune Publishing Co.
|
| Issue: | Common shares
|
| Amount: | $70.5 million
|
| Shares: | 4.7 million
|
| Price: | $15.00
|
| Warrants: | No
|
| Investor: | Nant Capital, LLC
|
| Pricing date: | May 23
|
| Stock symbol: | NYSE: TPUB
|
| Stock price: | $14.23 at close May 20
|
| Market capitalization: | $381.03 million
|
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