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AMC Networks Announces Final Results of Modified Dutch Auction Tender Offer
NEW YORK, Oct. 21, 2020 (GLOBE NEWSWIRE) -- AMC Networks Inc. (“AMC Networks” or the “Company”) (NASDAQ: AMCX) today announced the final results of its
About this update from Amc Global Media Inc.
[{"type":"text","content":"NEW YORK, Oct. 21, 2020 (GLOBE NEWSWIRE) -- AMC Networks Inc. (“AMC Networks” or the “Company”) (NASDAQ: AMCX) today announced the final results of its modified Dutch auction tender offer, which expired at 12:00 midnight, New York City time, on October 14, 2020.\n Based on the final count by Equiniti Trust Company, the depositary for the tender offer (the “Depositary”), AMC Networks has accepted for purchase 10,802,550 shares of its Class A common stock, par value $0.01 per share (the “Class A Shares”), at a price of $23.20 per Class A Share, for an aggregate cost of $250,619,160, excluding fees and expenses relating to the tender offer. The repurchased Class A Shares represent approximately 26.6 percent of the Class A Shares issued and outstanding as of October 13, 2020. Included in the 10,802,550 Class A Shares AMC Networks accepted for purchase in the tender offer are 26,688 Class A Shares that AMC Networks elected to purchase pursuant to its right to purchase up to an additional 2% of its outstanding Class A Shares. As AMC Networks accepted for purchase all the Class A Shares that were properly tendered and not properly withdrawn at a price at or below $23.20, there is no proration factor. The Company will pay for the Class A Share repurchases with available cash. The Depositary will promptly pay for all Class A Shares accepted for payment pursuant to the tender offer, and will return all Class A Shares tendered and not purchased in the tender offer. BofA Securities, Inc. and Citigroup Global Markets Inc. acted as joint dealer managers for the tender offer, D.F. King & Co., Inc. acted as information agent for the tender offer and Equiniti Trust Company acted as the depositary for the tender offer. Stockholders who have questions or would like additional information about the tender offer may contact the information agent, D.F. King & Co., Inc., toll-free at (877) 478-5043; banks and brokers may call D.F. King at (212) 269-5550 or the joint dealer managers, BofA Securities, Inc. and Citigroup Global Markets Inc. at (888) 803-9655 and (877) 531-8365, respectively. About AMC Networks Inc. AMC Networks is a global entertainment company known for delivering high-quality content to audiences and a valuable platform to distributors and advertisers. The Company, which operates several of the most recognizable brands in entertainment...