Benzinga | Sep 15, 2021 05:52AM EDT

Live Nation Raises $450M Via Equity Offering At Discount

* Live Nation Entertainment Inc (NYSE: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.