Hyatt Hotels Corporation has entered into a Purchase and Sale Agreement with GHHC, L.L.C., to acquire 1,283,000 shares of Class B Common Stock at a price of $155.9593 per share. The total purchase price for the shares amounts to $200,095,781.90, which will be paid in cash at the closing of the sale on March 15, 2024.
The sale is subject to various representations and warranties, including GHHC, L.L.C. confirming that it has all necessary power and capacity to execute and deliver the agreement and that it is the legal and beneficial owner of the shares, free and clear of any liens or encumbrances. On the other hand, Hyatt Hotels Corporation has represented that it has all necessary power and capacity to execute and deliver the agreement and that there is no pending action or proceeding challenging the validity of the agreement.
The agreement also includes provisions for the survival of representations and warranties, confidentiality, and the allocation of costs related to the negotiation, preparation, execution, and performance of the agreement.
Upon the closing of the sale, Hyatt Hotels Corporation will take ownership of the shares, and GHHC, L.L.C. will receive the agreed-upon purchase price. For the full picture, make sure to review Hyatt Hotels's 8-K report.
