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Penn National Said to Price Offering at $61 After Barstool Rally

Sept. 25, 2020, 1:19 AM

Penn National Gaming Inc. priced its stock offering at $61 per share, a person familiar with the matter said.

The minority owner of Barstool Sports Inc. raised about $850 million in the deal, which followed a 150% surge in the gambling purveyor this year. The offering represents a 4.66% discount to Thursday’s closing price.

Goldman Sachs, Bank of America and JPMorgan underwrote the offering.

Read more: Penn National Cashes in on Barstool Euphoria With Share Sale

To contact the reporter on this story:
Drew Singer in New York at dsinger28@bloomberg.net

To contact the editors responsible for this story:
Courtney Dentch ...