Intrawest Resorts Holdings, Inc. Announces Pricing of Initial Public Offering

  Intrawest Resorts Holdings, Inc. Announces Pricing of Initial Public
  Offering

Business Wire

DENVER -- January 30, 2014

Intrawest Resorts Holdings, Inc. announced the pricing of its initial public
offering of 15,625,000 shares of its common stock at $12.00 per share. The
Company priced 3,125,000 shares of its common stock and an entity controlled
by certain private equity funds managed by an affiliate of Fortress Investment
Group LLC priced an additional 12,500,000 shares of the Company’s common
stock. The selling stockholder has granted the underwriters a 30-day option to
purchase up to an additional 2,343,750 shares of common stock. The shares are
expected to begin trading on the New York Stock Exchange under the symbol
“SNOW” on January 31, 2014. The offering is expected to close on or about
February 5, 2014 subject to the satisfaction of customary closing conditions.

The net proceeds received by the Company from the offering are expected to be
approximately $35.1 million after deducting underwriting discounts and
commissions and before deducting estimated offering expenses. The Company has
no specific plans for the net proceeds received by the Company from the
offering and intends to use such proceeds for working capital and other
general corporate purposes, which may include potential investments in, and
acquisitions of, ski and adventure travel businesses and assets. The Company
will not receive any proceeds from the sale of common stock by the selling
stockholder.

Goldman, Sachs & Co., Credit Suisse Securities (USA) LLC, Deutsche Bank
Securities Inc. and BofA Merrill Lynch are acting as joint book-running
managers and representatives of the underwriters in the offering. JMP
Securities LLC, KeyBanc Capital Markets and Stephens Inc. are acting as
co-managers in the offering. The offering is being made only by means of a
prospectus. Copies of the final prospectus relating to the offering can be
obtained from:

                                                                           Deutsche Bank              BofA Merrill Lynch
Goldman, Sachs & Co.              Credit Suisse Securities (USA) LLC       Securities Inc.
                                                                                                      Attn: Prospectus
Attn: Prospectus Department       Attn: Prospectus Department              Attn: Prospectus           Department.
                                                                           Department
200 West Street                   One Madison Avenue                                                  222 Broadway
                                                                       60 Wall Street          
New York, NY 10282                New York, NY 10010                                                  New York, NY 10038
                                                                           New York, NY 10005
Phone: (866) 471-2526             Phone: (800) 221-1037                                               dg.prospectus_requests
                                                                           Phone: (800) 503-4611
Prospectus-ny@ny.email.gs.com     newyork.prospectus@credit-suisse.com                                @baml.com
                                                                           prospectus.cpdg@db.com

The registration statement relating to these securities was declared effective
by the Securities and Exchange Commission on January 30, 2014. This press
release shall not constitute an offer to sell or the solicitation of an offer
to buy, nor shall there be any sale of these securities in any state or
jurisdiction in which such offer, solicitation or sale would be unlawful prior
to registration or qualification under the securities laws of any such state
or jurisdiction.

About Intrawest Resorts Holdings, Inc.

Intrawest is a North American mountain resort and adventure company,
delivering distinctive vacation and travel experiences to its customers for
over three decades. The Company owns interests in seven four-season mountain
resorts with more than 11,000 skiable acres and more than 1,150 acres of land
available for real estate development. Intrawest’s mountain resorts are
geographically diversified across North America’s major ski regions, including
the Eastern United States, the Rocky Mountains, the Pacific Southwest and
Canada. The Company also operates an adventure travel business, the
cornerstone of which is Canadian Mountain Holidays, the leading heli-skiing
adventure company in North America. Additionally, the Company operates a
comprehensive real estate business through which it manages, markets and sells
vacation club properties; manages condominium hotel properties; and sells and
markets residential real estate.

Forward-Looking Statements

This press release includes “forward looking statements” within the meaning of
the “safe harbor” provisions of the United States Private Securities
Litigation Reform Act of 1995. Forward-looking statements may be identified by
the use of words such as “anticipate”, “believe”, “expect”, “estimate”,
“plan”, “outlook” and “project” and other similar expressions that predict or
indicate future events or trends or that are not statements of historical
matters. These forward looking statements include statements regarding the
closing of the offering and the Company’s use of the net proceeds of the
offering. Forward looking statements should not be read as a guarantee of
future performance or results, and will not necessarily be accurate
indications of the times at or by which such performance or results will be
achieved. Forward looking statements are based on information available at the
time those statements are made and/or management’s good faith belief as of
that time with respect to future events, and are subject to risks and
uncertainties that could cause actual performance or results to differ
materially from those expressed in or suggested by the forward looking
statements. Except as required by applicable law, the Company does not intend,
and undertakes no duty, to update this information to reflect future events or
circumstances. Investors are referred to the Company’s registration statement
on Form S-1.

Contact:

Intrawest Resorts Holdings, Inc.
Investor Relations
(303) 749-8370
InvestorRelations@intrawest.com
 
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