VICI Properties prices stock offering at implied $30.90

• VICI Properties (NYSE:VICI) has priced an underwritten public offering of 16.5M shares of its common stock, resulting in approximately $509.9 million of gross proceeds.
• Underwriters are granted a 30-day option to purchase up to an additional 2,475,000 shares.
• The offering is expected to close on November 8, 2022.
• BofA Securities and Citigroup will serve as underwriters for the offering.
• VICI expects to enter into separate forward sale agreements with each of BofA Securities and Citibank, N.A. with respect to the shares of common stock covered by the offering.
• VICI will not initially receive any proceeds from the sale of shares of common stock by the forward purchasers or their respective affiliates.
• The company expects to use any cash proceeds that it receives upon the future settlement of the forward sale agreements in connection with or in furtherance of the ongoing business and operations of the Company and other general corporate purposes, which may include capital expenditures, working capital and the repayment or refinancing of indebtedness.

• Shares are down 2.31% after-hours.