Business
Cineplex Announces Closing of Over-Allotment Option in Connection with Recently Completed Convertible Debenture Offering
Cineplex Announces Closing of Over-Allotment Option in Connection with Recently Completed ...
About this update from Cineplex Inc.
[{"type":"text","content":"\n\n\n\nCineplex Announces Closing of Over-Allotment Option in Connection with Recently Completed Convertible Debenture Offering\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nTORONTO, July 20, 2020\n\n\n\nTORONTO, July 20, 2020 /CNW/ - Cineplex Inc. (\"Cineplex\" or the \"Company\") (TSX: CGX) is pleased to announce that it has completed the issue and sale of an additional $41,250,000 aggregate principal amount of 5.75% convertible unsecured subordinated debentures (the \"Debentures\"), at a price of $1,000 per Debenture, pursuant to the exercise in full of the over-allotment option granted to the underwriters in connection with the Company's recently completed underwritten offering of $275 million aggregate principal amount of Debentures (the \"Offering\"). Together with the Debentures issued on July 15, 2020, Cineplex will have issued a total of $316,250,000 aggregate principal amount of Debentures.\n\n \n \n \n \n \n \n\n \nThe Offering was made through a syndicate of underwriters led by Scotiabank and including BMO Capital Markets, RBC Capital Markets, CIBC Capital Markets, National Bank Financial Inc. and TD Securities Inc. The Debentures have been listed on the TSX under the symbol CGX.DB.B. The Company will use the net proceeds from the closing of the over-allotment option to repay indebtedness under its revolving credit facility. \nThe Debentures have not and will not be registered under the U.S. Securities Act of 1933, as amended (the \"Act\"), and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements under the Act. This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities in any jurisdiction.\nCaution Regarding Forward Looking StatementsCertain information included in this news release contains forward-looking statements within the meaning of applicable securities laws.  These forward-looking statements include, among others, statements with respect to Cineplex's objectives, goals and strategies to ...