Date Announced: 03/16/2009
client: Wynn Resorts, Limited
Status: Closed – 03/2009
Value: $210 million Read the case study
On March 17, 2009, Wynn Resorts, Limited (“Wynn”, Nasdaq: WYNN), one of the world’s leading developers, owners and operators of destination casino resorts, priced a public offering of 9,600,000 newly issued shares of its common stock. Including the overallotment option which was exercised, Wynn issued 11,040,000 shares, with total gross proceeds to Wynn of approximately $210 million. Wynn used the proceeds for general corporate purposes, including repayment of debt. Moelis & Company acted as financial advisor, co-manager and underwriter and had a key role in the transaction, originating and securing three anchor investors, which accounted for approximately 60% of the offering.