NEW YORK - LAS Vegas Sands said on Friday it has completed its offering of common stock, preferred stock and warrants, providing roughly US$2.1 billion (S$3.2 billion) of additional capital to the casino operator.

In aftermarket trading, Las Vegas Sands' shares jumped 51 US cents, or 9.1 per cent, to US$6.09, after gaining 53 US cents to close the regular session at US$6.11. The stock has traded between US$4.32 and US$122.96 during the past 52 weeks.

The action follows Sands' announcement last week that it is in danger of defaulting on US$5.2 billion in credit facilities.

Sands sold 200 million common shares for US$5.50 apiece for a total of US$1.1 billion, which included 18.2 million shares purchased by the underwriters. Sands also sold 5.2 million units consisting of one share of preferred stock plus a warrant to buy stock at US$6 a share.

The units sold for US$100 each.

In addition, billionaire Sheldon Adelson, the Las Vegas-based company's founder and chief executive, bought with his wife roughly 5.25 million shares of preferred stock and warrants at the same terms as the public offering. The warrants included in the public offering and sale to the Adelsons could raise another US$1.04 billion.

The couple also converted US$475 million in notes they purchased last month into 86.4 million shares of common stock at a conversion price of US$5.50 apiece.

With the completion of the deal, the Adelson family's stake in the company falls to just over 51 per cent, now worth about US$2.2 billion, down from 69 per cent earlier this year.

Claiming an exception in New York Stock Exchange rules, Sands did not seek shareholder approval for its financing plan, even though it more than doubles the number of outstanding shares, significantly diluting their value.

The company warned that any delay caused by getting shareholder approval 'would seriously jeopardise the ability to complete the offerings as well as the financial viability of the company'.

Along with paying down debt, Sands said it plans to use the proceeds from the offerings to help finance its construction and development projects.

On Monday, the company said it would significantly slow the pace of its development and suspend construction at its US$600 million St Regis condominium tower in Las Vegas and two sites on the Cotai Strip in Macau.

The company plans to focus its available capital on completing the US$5 billion Marina Bay Sands in Singapore and Sands Bethlehem casino in Bethlehem, Pennsylvania.

Sands said it plans to resume development of the Cotai Strip sites when financing becomes available on acceptable terms.

In a filing with the Securities and Exchange Commission on Monday, Sands said its board has formed a committee to evaluate the company's decision-making and resolve disputes between Mr Adelson and other senior managers. The filing said the committee was formed to address 'a loss of confidence' by managers in how the company is being run. -- AP