Cinemark Holdings, Inc. has announced the commencement of a cash tender offer for any and all of Cinemark USA, Inc.’s 5.875% senior notes due 2026. As of July 9, 2024, Cinemark USA had $405,000,000 aggregate principal amount of notes outstanding.
The tender offer, set to expire at 5:00 p.m., New York City time, on July 15, 2024, unless extended or earlier terminated, offers consideration for each $1,000 principal amount of notes validly tendered and accepted for purchase, with a cash amount equal to accrued and unpaid interest up to, but not including, the settlement date.
The tender offer is subject to the satisfaction or waiver of certain conditions, including Cinemark USA’s completion of one or more debt financing transactions in an amount sufficient to fund the purchase of all outstanding notes and to pay all associated fees and expenses.
Cinemark Holdings, Inc. is a major movie theatre company, operating 502 theatres with 5,708 screens in 42 states domestically and 13 countries throughout South and Central America, as of March 31, 2024.
Investor relations contact: Chanda Brashears (972) 665-1671 [email protected] Media contact: Julia McCartha (972) 665-1322 [email protected] As a result of these announcements, the company's shares have moved -0.4% on the market, and are now trading at a price of $21.75. If you want to know more, read the company's complete 8-K report here.
