Aug. 7, 2013
/PRNewswire/ -- B. Riley & Co., LLC, (B. Riley)
, a leading independent investment bank which provides a full array of corporate finance, research, sales and trading services announced that it acted as co-manager in an
underwritten public offering for Carmike Cinemas, Inc. (NASDAQ: CKEC).
The public offering was announced on
July 22, 2013
and consisted of 4,500,000 shares of common stock. The offering was marketed over a four-day period and priced at
per share after the market close on
July 25, 2013
Carmike also has granted the underwriters a 30-day option to purchase up to 675,000 additional shares of common stock, on the same terms and conditions, to cover over-allotments, if any.
B. Riley's Chairman,
, and Managing Director,
, led the banking team for this transaction.
"B. Riley has played a key role in our capital raising efforts. Their in-depth knowledge and research coverage of the entertainment sector as well as their deep relationships with institutional investors contributed significantly to the success of our offering," said
, Carmike's Chief Executive Officer and Director.
-based Carmike Cinemas, Inc. operates digital cinema and 3D cinema theaters. As of
June 30, 2013
, the Company had 245 theatres with 2,476 screens in 35 states, with a digital footprint of 2,373 screens. Of those locations, 227 theaters with 940 screens are equipped for 3-D capability, including 19 "Big D" large format and 7 IMAX® auditoriums. Carmike's focus for its theater locations is small to mid-sized communities.
This communication shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.