Las Vegas Sands Corporation has raised $2.1 billion via an offering of common stock, preferred stock and warrants, easing worries about the company's ability to operate going forward.
In a Securities and Exchange Commission filing today, PricewaterhouseCoopers, the company's independent accountant, said of Friday's round of capital raising: "We previously concluded that there was substantial doubt about the Company’s ability to continue as a going concern . . . management has subsequently taken certain actions which we have concluded remove that substantial doubt."
The company, headed by Sheldon G. Adelson, said it planned to use the proceeds to fund development and construction projects.
Its shares, which trade on the New York Stock Exchange, have fallen 80 percent since Oct. 1.