Advertisement

Royal Caribbean Finishes Key December Fundraising on New Year's Eve

Royal Caribbean Group Logo

As of December 31, 2020, Royal Caribbean Cruises announced it sold 13,045,927 shares of the company’s common stock under its “at-the-market” equity offering program  that was announced on December 3, 2020, and exhausted the program in full.

The company received aggregate gross proceeds of $1.0 billion from the ATM Offering.

As previously disclosed, the net proceeds from the ATM Offering will be used for general corporate purposes.

With most ships still laid up, the company is burning through an average of $270 million per month, per company estimates.

"Our cash burn rate for the quarter was consistent with our previously announced range when excluding cash refunds of customer deposits, commissions, debt obligations, cash inflows from new and existing bookings and fees and collateral postings related to our financing and hedging activities," the company said, in a previous statement. 

Cruise Industry News Email Alerts

 

Email Newsletter

Get the latest breaking cruise news. Sign up.

Cruise Ship Orderbook

92 Ships | 198,372 Berths | $57 Billion | View

New 2021 Expedition Report

Cruise Industry News Expedition Cover

Highlights:

Market Overview

Complete Insight

2027 Outlook

New Players

Full Coverage

Order Today

All New 2021 Annual

Cruise Industry News 2021 Annual

Highlights:

Entire Industry

Supply Data

All Companies

400 Pages

Digital Access

2027 Outlook

Order Today