SeaWorld Entertainment, which operates 11 US theme parks under brands such as SeaWorld and Busch Gardens, announced terms for its IPO on Tuesday. The Orlando, FL-based company plans to raise $510 million by offering 20 million shares (50% insider) at a price range of $24 to $27. At the midpoint of the proposed range, SeaWorld Entertainment would command a market value of $2.4 billion. SeaWorld Entertainment, which was founded in 1959 and booked $1.4 billion in sales for the 12 months ended 12/31/2012, plans to list on the NYSE under the symbol SEAS. Goldman Sachs, J.P. Morgan, Citi, BofA Merril Lynch, Barclays and Wells Fargo are the joint bookrunners on the deal.
