Viad Corp sells GES business for $535M, rebrand as Pursuit, change ticker to PRSU

Pursuit Attractions & Hospitality, Inc.

Sale of GES to Truelink Capital for $535 million in cash, closing expected by end of 2024.
Upon close, Viad will rename to Pursuit and change NYSE ticker to PRSU.
Pursuit's 2023 revenue was $350M with Adjusted EBITDA margin of 26.4% and 3.5M visitors.
Proceeds will retire $317M Term Loan B and fund growth via Refresh, Build, Buy strategy.
David Barry to become CEO of standalone Pursuit; Steve Moster transitions to advisory role.

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