On December 31, 2020, Royal Caribbean Cruises announced that it had sold 13,045,927 common shares of the company under the at-the-market stock offering program announced on December 3, 2020, and had completely exhausted the program.
The company received total 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 burns an average of $ 270 million a month, the company estimates.
“Our cash burn rate for the quarter was consistent with our previously announced reach when we received cash repayments from customer deposits, commissions, debt obligations, cash inflows from new and existing bookings and fees and collateral entries related to our financing and loan bookings, and the company said in a previous statement. .
