Sea Containers last week priced its offering of 8.61 million class A common shares of Orient-Express Hotels Limited at $32 per share.

In addition, Sea Containers granted the underwriters a 30 day option to purchase up to an additional 1.29 million class A shares of Orient-Express Hotels to cover overallotments, if any.

Assuming that the underwriters exercise their overallotment option in full, Sea Containers will no longer own any shares of Orient-Express Hotels after Sea Containers sells these 9.90 million class A common shares.

Sea Containers plans to use the proceeds from the sale of the class A common shares to repay a portion of its outstanding indebtedness and for general corporate purposes. Orient-Express Hotels will receive no proceeds from the sale.