Drive Shack Inc. Announces Pricing of Public Offering of Common Stock

NEW YORK--(BUSINESS WIRE)--Drive Shack Inc. (NYSE: DS, the “Company”), a leading owner and operator of golf-related leisure and entertainment businesses, announced today that it priced its underwritten public offering of 20,833,334 shares of common stock at a price to the public of $2.40 per share for gross proceeds of approximately $50 million. All shares of common stock are being offered by the Company. The Company has granted the underwriters an option for a period of 30 days to purchase up to an additional 3,124,999 shares of common stock. The offering is expected to close on February 2, 2021, subject to customary closing conditions.