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

Seaport Entertainment Group Inc.

Rights offering of up to 7,000,000 shares at $25.00 per share, raising $175.0M gross.
Pershing Square funds backstop entire offering if unsubscribed shares remain.
Record date Sept 20, 2024; rights trade on NYSE American (SEG RT) Sept 24 to Oct 9, 2024.
Each share owned receives one right to buy 1.267683 shares; expiration Oct 10, 2024.
Proceeds for general operating, working capital, and corporate purposes.

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