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Carmike Cinemas announce pricing of IPO

July 26
9:24 AM 2013

Carmike Cinemas, Inc. announced the pricing of its underwritten public offering for 4,500,000 shares of Carmike's common stock priced at US$18.00 per share. The company has given the underwriters a 30-day option to purchase an additional 675,000 shares of the company's common stock.

Carmike Cinemas said that they are expecting to generate at least US$76.5 million net proceeds from the public offering, or US$88.1 million if the underwriters for the deal exercise their over-allotment in full. The company also added that they plan to use the proceeds of the public offering for potential acquisitions, capital expenditures, working capital and other general corporate purposes.

Macquarie Capital acted as the sole bookrunning manager for the public offering. Maxim Group LLC, Ascendiant Capital Markets, LLC, Wedbush Securities, B. Riley & Co., and Barrington Research acted as co-managers for the initial public offering.

Carmike Cinema, Inc is one of the country's biggest motion picture exhibitors and is a leader in digital cinema, as well as 3-D cinema deployments.

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