Carmike Cinemas Inc fka CKEC

[Enterprising Investor]

Carmike Cinemas Announces Pricing of $230 Million of Senior Secured Notes Due 2023 (6/10/15)

COLUMBUS, Ga.--(BUSINESS WIRE)--Carmike Cinemas, Inc. (NASDAQ:CKEC) today announced the pricing of its previously announced unregistered offering of $230 million aggregate principal amount of 6.00% Senior Secured Notes Due 2023, pursuant to Rule 144A and Regulation S under the Securities Act of 1933, as amended. The notes were priced at par and will bear an interest rate of 6.00% per annum payable semi-annually on June 15 and December 15, beginning on December 15, 2015. Carmike expects to close the offering of the notes on or about June 17, 2015, subject to the satisfaction of customary closing conditions.

Carmike also expects to enter into a new $50 million senior secured revolving credit facility to replace its existing revolving credit facility. Carmike expects the new credit facility to remain undrawn at closing.

The net proceeds from the offering, together with cash on hand, will be used to redeem all $210 million in aggregate principal amount of Carmike’s existing 7.375% Senior Secured Notes due 2019, and to pay related fees and expenses.

The notes will not be registered under the Securities Act or the securities laws of any state and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements under the Securities Act and any applicable state securities laws.

This press release does not constitute an offer to sell or the solicitation of an offer to buy the notes, nor shall it constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale is unlawful.

About Carmike Cinemas

Carmike Cinemas, Inc. is a U.S. leader in digital cinema, 3-D cinema deployments and one of the nation's largest motion picture exhibitors. Carmike has 272 theatres with 2,894 screens in 41 states. The circuit includes 46 premium large format (PLF) auditoriums featuring state-of-the-art technology and luxurious seating, including 28 "BigDs," 16 IMAX auditoriums and two MuviXL screens. As "America's Hometown Theatre Chain" Carmike's primary focus is mid-sized communities. Visit www.carmike.com for exact show-times and to purchase tickets.

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