Seaport Entertainment rights offering oversubscribed; $175M raise with Pershing Square backstop

Seaport Entertainment Group Inc.

4,651,166 basic rights exercised for 5,895,299 shares at $25/share; 6,847,032 additional shares oversubscribed subject to proration.
Pershing Square backstop fully exercised its pro rata rights; not expected to purchase extra due to oversubscription.
Closing of rights offering expected on or about October 17, 2024, subject to customary conditions.
Subscription price of $25.00 per share; total offering size $175.0 million.

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