Initial Public Offering (IPO) (Tables)

6 Months Ended

Jun. 30, 2020

Schedule of Use of Proceeds from Initial Public Offering

The use of the proceeds from the IPO is as follows (in millions):


Gross proceeds	$	2,381.0
Less:
Underwriter fees	89.1
IPO related expenses (a)	42.3
Redemption of Series A Preferred Stock	1,067.9
Make-whole payment on redemption of
Series A Preferred Stock	205.2
Partial redemption of 10.250% New Senior
Unsecured Notes and accrued interest	312.0
Call premium on partial redemption
of 10.250% New Senior Unsecured Notes	30.8
Cash to balance sheet	$	633.7

(a) Includes payment of $30.0 million to the Originating Sponsors, in connection with the waiver and termination of anti-dilution rights in the Star Parent Partnership Agreement. Also in connection with the IPO transaction, we paid fees of $2.5 million each to THL Managers and entities affiliated with William P. Foley II and Chinh E. Chu (Bilcar and CC Star Holdings, LP, respectively) for services provided.

Schedule of Assumptions Used in Fair Value Estimations

The assumptions are set forth in the following table:


Weighted Average Assumptions
Weighted Average Expected Stock Price Volatility	28	%
Weighted Average Expected Dividend Yield	0.0	%
Weighted Average Expected Life of Option (in years)	3.98
Weighted Average Risk-Free Interest Rate	0.23	%
Weighted Average Black Scholes Value	$4.99
Weighted Average Exercise Price	$22.00