Seaport Entertainment Group Closes $175 Million Rights Offering

MT Newswires Live

2024/10/18

Seaport Entertainment Group (SEG) said late Thursday it closed an oversubscribed rights offering raising $175 million for general operating, working capital and other corporate purposes.

The company is issuing 7 million common shares at a subscription price of $25 apiece.

Seaport said the offering was backstopped by investment funds advised by Pershing Square Capital Management.

Price: 28.06, Change: +0.05, Percent Change: +0.18

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