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The GEO Group, Inc. Announces Pricing of Offering of Common Stock

BOCA RATON, Fla.--(BUSINESS WIRE)--The GEO Group, Inc. (NYSE:GEO) (“GEO”) announced today that it has priced its previously announced underwritten public offering of 6,000,000 shares of its common stock at $41.75 per share. GEO has granted the underwriters a 30-day option to purchase up to 900,000 additional shares of common stock. GEO expects to receive total gross proceeds (before underwriting discounts and estimated offering expenses) of approximately $250.5 million, or approximately $288.1 million if the underwriters exercise their option to purchase additional shares of common stock in full.

The net proceeds of this offering are expected to be used to repay amounts outstanding under GEO's revolver portion of its senior credit facility and for general corporate purposes.

J.P. Morgan, SunTrust Robinson Humphrey, Barclays, and BofA Merrill Lynch are acting as joint book-running managers for the offering. The offering is being made only by means of a prospectus supplement and the accompanying base prospectus, copies of which may be obtained by contacting (i) J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, or by calling toll-free at (866) 803-9204 or by email at prospectus-eq_fi@jpmchase.com; (ii) SunTrust Robinson Humphrey, 3333 Peachtree Road NE, 9th Floor, Atlanta, GA 30326, Attention: Prospectus Department; email: strh.prospectus@suntrust.com; telephone:...


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