Gaming and Leisure Properties raises$345M capital via stock offering

• Gaming and Leisure Properties (NASDAQ:GLPI) prices its public offering of 7.7M common shares for total gross proceeds of ~$344.6M.
• Underwriters' over-allotment is an additional 1.155M shares.
• Net proceeds will be used to finance the acquisition of the real property assets of Live! Casino & Hotel Maryland, Live! Casino & Hotel Philadelphia, and Live! Casino Pittsburgh, including applicable long-term ground leases, from affiliates of The Cordish Companies, to repay borrowings and for general corporate purposes.
• Closing date is December 9, 2021.
• Shares down 2.4% after-hours. Yesterday's close was $46.45.
• Earlier (Dec. 6): Gaming and Leisure Properties stock falls 3% after stock offering launches