Viad Corp to convert all Preferred Stock into common on Dec 31; eliminates $8M annual dividend

Pursuit Attractions & Hospitality, Inc.

All 135,000 shares of 5.5% Series A Convertible Preferred Stock to be converted into ~6.7M shares of common stock on Dec 31, 2024.
Conversion triggered by VVI common stock VWAP exceeding $42.50 for 20 of 30 consecutive trading days; threshold met Dec 6.
Post-conversion, common shares outstanding will increase from ~21.3M to ~28M; no preferred shares remain.
Annual cash dividend savings of ~$8 million from eliminating preferred stock dividends; simplifies capital structure.
Separately, Pursuit to become standalone public company upon GES sale expected Dec 31; Viad to rename to Pursuit, ticker PRSU.

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