An email has been sent to your address with instructions for changing your password.
There is no user registered with this email.
Sign Up
To create a free account, please fill out the form below.
Thank you for signing up!
A confirmation email has been sent to your email address. Please check your email and follow the instructions in the message to complete the registration process. If you do not receive the email, please check your spam folder or contact us for assistance.
Welcome to our platform!
Oops!
Something went wrong while trying to create your new account. Please try again and if the problem persist, Email Us to receive support.
Manchester United PLC Announces Offering of Class A Ordinary Shares by the Selling Shareholders
Rhea-AI Impact
(Moderate)
Rhea-AI Sentiment
(Neutral)
Tags
Rhea-AI Summary
Manchester United announced the offering of 9,500,000 Class A Ordinary Shares by the Kevin Glazer and Edward S. Glazer Irrevocable Exempt Trusts. Manchester United will not receive any proceeds from this sale. The offering is expected to close on October 8, 2021, subject to customary conditions. BofA Securities acts as the sole underwriter. Shares will be sold at prevailing market prices in one or more transactions. Interested investors can access further details via the effective registration statement and prospectus filed with the SEC.
Positive
None.
Negative
Manchester United will not receive any proceeds from the sale of 9,500,000 shares, which could limit financial inflow.
MANCHESTER, England--(BUSINESS WIRE)--
Manchester United plc (“Manchester United”) today announced the offering of 9,500,000 of its Class A Ordinary Shares by the Kevin Glazer Irrevocable Exempt Family Trust and the Edward S. Glazer Irrevocable Exempt Trust (the “Selling Shareholders”). Manchester United will not receive any proceeds from the sale of any Class A Ordinary Shares by the Selling Shareholders. The offering is expected to close on October 8, 2021, subject to customary closing conditions. The Class A Ordinary Shares are listed on the New York Stock Exchange (the “NYSE”) under the symbol “MANU.”
The sole underwriter for this offering is BofA Securities.
The underwriter proposes to offer the shares of common stock from time to time for sale in one or more transactions on the NYSE, in the over-the-counter market, through negotiated transactions or otherwise at market prices prevailing at the time of sale, at prices related to prevailing market prices or at negotiated prices.
This offering is being made pursuant to an effective shelf registration statement filed with the Securities and Exchange Commission on Form F-3. The securities will be offered only by means of a prospectus and an accompanying prospectus supplement forming a part of the effective registration statement. Prospective investors should read the prospectus in that registration statement, the preliminary prospectus supplement and other documents that Manchester United has filed with the SEC for more complete information about Manchester United and the offering.
Copies of the prospectus and accompanying preliminary prospectus supplement related to the offering may be obtained from BofA Securities, Inc. NC1-004-03-43,200 North College Street, 3rd floor, Charlotte NC 28255-0001 Attn: Prospectus Department, Email: dg.prospectus_requests@bofa.com, Telephone: 1-800-294-1322.
You may also obtain these documents for free by visiting the Securities and Exchange Commission's website at www.sec.gov.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
In the United Kingdom, this announcement is only directed at, and any investment or investment activity to which this announcement relates is only available to, and will be engaged in only with, investment professionals falling within Article 19(5), or high net worth entities falling within Article 49(2), of the Financial Services and Markets Act (Financial Promotion) Order 2005 or other persons to whom such investment or investment activity may lawfully be made available (together “relevant persons”). Persons who are not relevant persons should not take any action on the basis of this announcement and should not act or rely on it.
About Manchester United
Manchester United is one of the most popular and successful sports teams in the world, playing one of the most popular spectator sports on Earth. Through our 143-year football heritage we have won 66 trophies, enabling us to develop what we believe is one of the world’s leading sports and entertainment brands with a global community of 1.1 billion fans and followers. Our large, passionate and highly engaged fan base provides Manchester United with a worldwide platform to generate significant revenue from multiple sources, including sponsorship, merchandising, product licensing, broadcasting and matchday initiatives which in turn, directly fund our ability to continuously reinvest in the club.
What is the significance of Manchester United's share offering on October 8, 2021?
Manchester United announced it would offer 9,500,000 Class A Ordinary Shares, which will not generate proceeds for the company, impacting its financial inflow.
Who are the sellers of the Class A Ordinary Shares for Manchester United?
The sellers of the Class A Ordinary Shares are the Kevin Glazer Irrevocable Exempt Family Trust and the Edward S. Glazer Irrevocable Exempt Trust.
What is the stock symbol for Manchester United?
The stock symbol for Manchester United is MANU, listed on the New York Stock Exchange.
Who is the underwriter for Manchester United's share offering?
BofA Securities is the sole underwriter for Manchester United's share offering.
How can investors access the prospectus for Manchester United's share offering?
Investors can obtain the prospectus and related documents by visiting the SEC's website or by contacting BofA Securities.
