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Royal Caribbean closes underwritten offering of $1.5bn shares

CRUISE Royal Caribbean Group logo.jpg
Royal Caribbean Group closed its underwritten public offering of $16.9m shares of common stock at $91 per share.

The company expects to use the net proceeds for general corporate purposes.

Morgan Stanley and BofA Securities acted as joint book-running managers and underwriters.

William Blair's read

According to William Blair, following this equity raise, the company has enough liquidity to weather up to 12 more months in an essentially zero-revenue scenario.

RCL closed at $94.48, up 86 cents, on Wednesday.

Perella Weinberg Partners acted as independent financial advisor to the Royal Caribbean Group.