Seaport Entertainment launches $175M rights offering at $25/share, backstopped by Pershing Square

Seaport Entertainment Group Inc.

Rights offering of up to 7M shares at $25/share for aggregate gross proceeds of $175M.
Record date Sep 20, 2024; rights tradable on NYSE American from Sep 24 to Oct 9.
Basic subscription rights proportional to ownership; over-subscription privileges available.
Backstop by Pershing Square to purchase any unsubscribed shares up to $175M.
Proceeds for general operating and working capital purposes.

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