Benzinga | Sep 24, 2020 05:35AM EDT

Accel Entertainment Priced 8M Share Public Offering of Class A-1 Common Stock @$10.50/Share

Accel Entertainment, Inc. (NYSE:ACEL) (the "Company") announced Wednesday the pricing of its previously announced underwritten public offering of its Class A-1 Common Stock. The Company will sell 8,000,000 shares of its Class A-1 Common Stock at a public offering price of $10.50 per share for a total offering size of $84,000,000. The Company has granted the underwriters a 30-day option to purchase up to an additional 1,200,000 shares of Class A-1 Common Stock. The offering is expected to close on or about September 28, 2020, subject to customary closing conditions.

Accel intends to use the net proceeds it receives from the offering for general corporate purposes.

Goldman Sachs & Co. LLC and J.P. Morgan are acting as joint book-running managers and as representatives of the underwriters for the offering and Credit Suisse Securities (USA) LLC and Deutsche Bank Securities Inc. are acting as joint book-running managers for the offering.