AMC Networks Inc. Announces Pricing of $125 Million Offering of Convertible Senior Notes
17 Junho 2024 - 10:23PM
AMC Networks Inc. (Nasdaq: AMCX) (the “Company” or “AMC Networks”)
today announced the pricing of $125 million aggregate principal
amount of 4.25% convertible senior notes due 2029 in a private
offering to persons reasonably believed to be qualified
institutional buyers pursuant to Rule 144A under the Securities Act
of 1933, as amended (the “Securities Act”). In connection with the
offering of the notes, the Company has granted the initial
purchasers an option to purchase, for settlement within a 13-day
period beginning on, and including, the first day on which the
notes are issued, up to an additional $18.75 million aggregate
principal amount of the notes. The offering of the notes is
expected to close on June 21, 2024, subject to satisfaction of
customary closing conditions.
AMC Networks expects to use the net proceeds from the offering
for general corporate purposes, which may include the repayment of
indebtedness.
The notes will be fully and unconditionally guaranteed, on a
joint and several basis, by each of AMC Networks’ existing and
future domestic subsidiaries that guarantee its existing credit
facilities and senior notes, subject to certain exceptions, on a
senior, unsecured basis. The notes will be general senior unsecured
obligations of AMC Networks and will pay interest semi-annually on
February 15 and August 15 of each year, beginning on February 15,
2025, at a rate of 4.25% per year. The notes will mature on
February 15, 2029, unless redeemed, repurchased or converted
earlier in accordance with their terms. The initial conversion rate
for the notes will be 78.5083 shares per $1,000 principal amount of
notes, which is equivalent to an initial conversion price of
approximately $12.74 per share of AMC Networks’ Class A common
stock and is subject to adjustment under the terms of the notes.
The initial conversion price of the notes represents a premium of
approximately 25.0% to the last reported sale price of $10.19 per
share of AMC Networks’ Class A common stock on the Nasdaq on June
17, 2024. Prior to November 15, 2028, the notes will be convertible
only upon satisfaction of certain conditions and during certain
periods, and, thereafter, the notes will be convertible at any time
until the close of business on the second scheduled trading day
immediately preceding the maturity date. Upon conversion, AMC
Networks will pay or deliver, as the case may be, cash, shares of
AMC Networks’ Class A common stock or a combination of cash and
shares of AMC Networks’ Class A common stock, at its election.
The notes are being offered to persons reasonably believed to be
qualified institutional buyers pursuant to Rule 144A under the
Securities Act. The offer and sale of the notes and the shares of
AMC Networks’ Class A common stock issuable upon conversion of the
notes, if any, have not been registered under the Securities Act or
the securities laws of any other jurisdiction, and the notes and
any such shares may not be offered or sold absent registration or
an applicable exemption from such registration requirements.
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy any securities, including the notes
or AMC Networks’ Class A common stock, nor shall there be any sale
of securities in any state or jurisdiction in which such an offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
About AMC Networks
AMC Networks (Nasdaq: AMCX) is home to many of
the greatest stories and characters in TV and film and the premier
destination for passionate and engaged fan communities around the
world. The company creates and curates celebrated series and films
across distinct brands and makes them available to audiences
everywhere. Its portfolio includes targeted streaming services
AMC+, Acorn TV, Shudder, Sundance Now, ALLBLK and HIDIVE; cable
networks AMC, BBC AMERICA (operated through a joint venture with
BBC Studios), IFC, SundanceTV and WE tv; and film distribution
labels IFC Films and RLJE Films. The company also operates AMC
Studios, its in-house studio, production and distribution operation
behind acclaimed and fan-favorite original franchises including The
Walking Dead Universe and the Anne Rice Immortal Universe; and AMC
Networks International, its international programming business.
Forward-Looking Statements
This press release may contain statements that constitute
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995, including statements
concerning the timing and completion of the offering of the notes
and the anticipated use of proceeds from the offering. Investors
are cautioned that any such forward-looking statements are not
guarantees of future performance or results and involve risks and
uncertainties, and that actual results, developments or events may
differ materially from those in the forward-looking statements as a
result of various factors, including financial community
perceptions of the Company and its business, operations, financial
condition and the industries in which it operates and the factors
described in the Company’s filings with the Securities and Exchange
Commission, including the sections titled “Risk Factors” and
“Management’s Discussion and Analysis of Financial Condition and
Results of Operations” contained therein. The Company disclaims any
obligation to update any forward-looking statements contained
herein.
Contacts
Investor RelationsNicholas
Seibertnicholas.seibert@amcnetworks.com |
Corporate CommunicationsGeorgia
Juvelisgeorgia.juvelis@amcnetworks.com |
AMC Networks (NASDAQ:AMCX)
Gráfico Histórico do Ativo
De Ago 2024 até Set 2024
AMC Networks (NASDAQ:AMCX)
Gráfico Histórico do Ativo
De Set 2023 até Set 2024