SeaWorld Entertainment Inc., which is wholly owned by The Blackstone Group L.P. (NYSE: BX), has filed for an initial public offering to raise $100 million. The number of shares on offer and the selling price of the shares has not been determined, nor has the IPO date.
SeaWorld owns 11 theme parks in the United States and, according to the filing, attracted 24 million visitors in the 12 months ended in September. The stock will trade under the symbol SEAS, but the exchange was not named.
Blackstone will retain most of the voting rights to SeaWorld, while the proceeds from the sale will be used to pay off debt, make a one-time payment to an affiliate of Blackstone, and for general corporate porpoises — er, purposes.
The full filing is available here.