ClubCorp Holdings, which owns and operates a network of more than 150 golf and country clubs and business, sports and alumni clubs, announced terms for its IPO on Monday. The Dallas, TX-based company plans to raise $306 million by offering 18.0 million shares (39% insider) at a price range of $16 to $18. At the midpoint of the proposed range, ClubCorp Holdings would command a fully diluted market value of $1.1 billion.
ClubCorp Holdings, which was founded in 1957 and booked $770 million in sales for the 12 months ended June 30, 2013, plans to list on the NYSE under the symbol MYCC. ClubCorp Holdings initially filed confidentially on June 5, 2013. Goldman Sachs, Jefferies, Citi, BofA Merrill Lynch and Deutsche Bank are the joint bookrunners on the deal.
