On December 31, 2020, Royal Caribbean Cruises announced that it sold 13,045,927 common shares of the company under its “on the market” stock offering program, announced on December 3, 2020, and has exhausted the program entirely.
The company received aggregate gross revenue of $ 1.0 billion from the ATM offering.
As previously disclosed, the net proceeds from the ATM Offering will be used for corporate purposes in general.
With most ships still at rest, the company spends an average of $ 270 million a month, according to company estimates.
“Our cash consumption rate for the quarter was consistent with our previously announced range by excluding cash repayments from customer deposits, commissions, debt obligations, new and existing reserve cash inflows and fees and collateral releases related to our financing and hedge activities, “the company said in a previous statement.
