Lucky Strike Entertainment Corporation has announced the pricing of a proposed senior secured notes offering and refinancing. The company's wholly-owned subsidiary, Kingpin Intermediate Holdings LLC, has priced an offering of $500 million aggregate principal amount of 7.250% senior secured notes due 2032 in a private offering. Additionally, the company has allocated a $1,200 million tranche of term loans maturing in 2032, which is an increase from the previously announced $1,000 million. The net proceeds from these offerings are expected to be used to refinance in full the issuer’s existing term loan facilities and revolving credit facility, and to pay related fees and expenses. Any remaining net proceeds are expected to be used for general corporate purposes.
The closing of the notes offering is expected to occur on September 22, 2025, subject to the satisfaction of customary closing conditions. The notes will be, jointly and severally, unconditionally guaranteed on a senior secured basis by the company and each of the company’s subsidiaries (other than the issuer) that is a borrower or a guarantor under the new senior secured credit facilities.
The notes will not be registered under the securities act or any state securities law and may not be offered or sold in the United States absent registration or an applicable exemption from registration under the securities act and applicable state securities laws.
Lucky Strike Entertainment is one of the world’s premier location-based entertainment platforms, with over 360 locations across North America, providing experiential offerings in bowling, amusements, water parks, and family entertainment centers. The company also owns the Professional Bowlers Association and a growing media property that boasts millions of fans around the globe. The market has reacted to these announcements by moving the company's shares 1.22% to a price of $9.94. If you want to know more, read the company's complete 8-K report here.
