Hilton Grand Vacations Announces Secondary Offering of 24,750,000 Shares of Common Stock

Hilton Grand Vacations Inc. (NYSE:HGV) announces that HNA HLT Holdco I LLC (the “Selling Stockholder”), an affiliate of HNA Tourism Group Co., Ltd., has commenced an underwritten secondary offering of 24,750,000 shares of HGV’s common stock.

HGV is not offering any shares of common stock in the offering and will not receive any proceeds from the sale of shares in the offering.

Concurrent with the offering, the Selling Stockholder has granted to HGV an option to repurchase from the Selling Stockholder, in a privately negotiated transaction, up to 4,340,000 shares of its common stock at a price per share equal to the price per share at which the underwriters will purchase shares of HGV’s common stock from the Selling Stockholder in the offering (the “Share Repurchase”). HGV will retire any shares that it repurchases. The offering is not conditioned upon the completion of any Share Repurchase, but the Share Repurchase is conditioned upon completion of the offering.

BofA Merrill Lynch and J.P. Morgan are acting as joint book-running managers and representatives of the underwriters for the offering. UBS Investment Bank, Goldman Sachs & Co. LLC, Deutsche Bank Securities, Credit Suisse and SunTrust Robinson Humphrey are also acting as joint book-running managers and underwriters for the offering.

The offering of these securities is being made pursuant to an effective registration statement. This offering will be made only by means of a prospectus. A copy of the prospectus relating to these securities, when available, may be obtained from: BofA Merrill Lynch, 200 North College Street, 3rd floor, Charlotte, NC 28255-0001, Attn: Prospectus Department, Email: dg.prospectus_requests@baml.com; or J.P. Morgan Securities LLC, c/o: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, telephone: 1-866-803-9204.

About Hilton Grand Vacations Inc.

Hilton Grand Vacations Inc. (NYSE:HGV) is recognized as a leading global timeshare company. With headquarters in Orlando, Fla., Hilton Grand Vacations develops, markets and operates a system of brand-name, high-quality vacation ownership resorts in select vacation destinations. The company also manages and operates two innovative club membership programs: Hilton Grand Vacations Club® and The Hilton Club®, providing exclusive exchange, leisure travel and reservation services for more than 285,000 Club Members.

2018-03-15T07:34:00+00:00March 15th, 2018|Tags: |