Live Nation Raises $450M Via Equity Offering At Discount

Live Nation Entertainment Inc LYV priced 5.2 million shares at $86.90 per share to raise $449.6 million in a secondary public offering.
The offer price implies a 2% discount to Live Nation's September 14 closing price of $88.68.
The offering proceeds will help fund the OCESA Entretenimiento, S.A. de C.V. acquisition worth $444 million. The remaining proceeds will serve general corporate purposes.
Price Action: LYV shares closed lower by 0.48% at $88.68 on Tuesday.