COLUMBUS, Ga. -- Carmike Cinemas, Inc. (NASDAQ: CKEC) today announced the pricing of its previously announced underwritten public offering of 4,500,000 shares of its common stock at $18.00 per share. The underwriters have a 30-day option to purchase up to an additional 675,000 shares of common stock, on the same terms and conditions, to cover over-allotments, if any.
Carmike expects that the net proceeds from the offering will be approximately $76.5 million ($88.1 million if the underwriters exercise their over-allotment option in full), after deducting underwriting discounts and estimated offering expenses. Carmike plans to use the net proceeds from this offering for potential acquisitions, working capital, capital expenditures or other general corporate purposes.
Macquarie Capital is acting as the sole bookrunning manager for the offering. B. Riley & Co., Wedbush Securities, Barrington Research, Maxim Group LLC and Ascendiant Capital Markets, LLC are acting as co-managers.
The offering is being made pursuant to Carmike's effective shelf registration statement (File No. 333-167383) previously filed with the Securities and Exchange Commission ("SEC"). This press release is neither an offer to sell nor a solicitation of an offer to buy any securities. Any offer will be made only by means of a prospectus, including a prospectus supplement, forming a part of the effective shelf registration statement. Any such prospectus shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities, in any jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. Copies of the final prospectus supplement, when available, and related prospectus can be obtained at the SEC's website, www.sec.gov, or from Macquarie Capital (USA) Inc., Attn: Prospectus Department, 125 West 55th St, 22nd Floor, New York, NY 10019, or by calling +1.888.268.3937, or by e-mailing firstname.lastname@example.org.