ClubCorp Holdings, Inc. Announces Pricing Of Its Initial Public Offering

DALLAS, Sept. 19, 2013 /PRNewswire/ -- ClubCorp Holdings, Inc. ("ClubCorp"), a leading owner-operator of private golf and country clubs, business, sports and alumni clubs in North America, today announced the pricing of an initial public offering of 18,000,000 shares of its common stock at $14.00 per share. 

ClubCorp is offering 13,200,000 shares to be sold in the offering and a selling stockholder affiliated with KSL Capital Partners, LLC is offering an additional 4,800,000 shares to be sold in the offering. The selling stockholder has granted the underwriters a 30-day option to purchase up to an additional 2,700,000 shares at the initial public offering price. The shares are expected to begin trading on the New York Stock Exchange on September 20, 2013, under the ticker symbol "MYCC," and the offering is expected to close on September 25, 2013, subject to customary closing conditions. 

ClubCorp will receive net proceeds of approximately $168.8 million after deducting underwriting discounts and commissions and estimated offering expenses payable by ClubCorp. ClubCorp will not receive any of the proceeds from the sale of the shares sold by the selling stockholder. ClubCorp intends to use a portion of the net proceeds from the offering to redeem $145.25 million in aggregate principal amount of 10% Senior Notes due 2018 issued by its subsidiary ClubCorp Club Operations, Inc., at a redemption price of 110.0% plus accrued and unpaid interest thereon.  In addition, ClubCorp intends to use a portion of the net proceeds from the offering and cash on hand to make a one-time payment of $5.0 million to an affiliate of KSL Capital Partners, LLC in connection with the termination of a management agreement.

Goldman, Sachs & Co., Jefferies LLC, Citigroup Global Markets Inc., BofA Merrill Lynch and Deutsche Bank Securities Inc. are acting as joint bookrunners in the offering. Wells Fargo Securities, LLC and Stephens Inc. are acting as co-managers in the offering.

A registration statement relating to the shares of the common stock of ClubCorp to be sold in the offering has been declared effective by the U.S. Securities and Exchange Commission. This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities described above, nor shall there be any sale of such shares of common stock in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

The offering of these securities will be made only by means of a prospectus, copies of which may be obtained from Goldman, Sachs & Co. at Prospectus Department, 200 West Street, New York, NY 10282 or by telephone at 866-471-2526 or by facsimile at 212-902-9316 or by email at prospectus-ny@ny.email.gs.com, Jefferies LLC at c/o 520 Madison Avenue, 12th Floor, New York, NY, 10022, Attention: Equity Syndicate Prospectus Department or by telephone at 877-547-6340 or by email at Prospectus_Department@Jefferies.com, Citigroup Global Markets Inc. at c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 or by telephone at 800-831-9146, BofA Merrill Lynch at 222 Broadway, New York NY 10038, Attention: Prospectus Department or by email at dg.prospectus_requests@baml.com or by telephone at 1-800-294-1322 and Deutsche Bank Securities Inc. at 60 Wall Street, New York, New York 10005, Attention: Prospectus Group or by telephone at 800-503-4611 or by email at prospectus.cpdg@db.com.

SOURCE ClubCorp Holdings, Inc.



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