Regal Entertainment Group Announces Sale of Class A Common Stock by the Anschutz Corporation
August 02 2016 - 6:10PM
Business Wire
Regal Entertainment Group (NYSE: RGC), (the “Company”), a
leading motion picture exhibitor, today announced that The Anschutz
Corporation and certain of its affiliates (the “Selling
Stockholders”) intend to offer for sale in an underwritten
secondary offering 13,000,000 shares of the Company’s Class A
common stock pursuant to the Company’s shelf registration statement
filed with the Securities and Exchange Commission (the “SEC”).
Following the offering, the Selling Stockholders will own
37,000,000 shares of our issued and outstanding Class A Common
Stock, representing approximately 27.8 % of our Class A common
stock issued and outstanding as of July 29, 2016, which together
with the 23,708,639 shares of our Class B common stock owned by the
Selling Stockholders, represents 74% of the combined voting power
of the outstanding shares of Class A common stock and Class B
common stock as of July 29, 2016.
The Selling Stockholders will receive all of the proceeds from
this offering. No shares are being sold by management or the
Company. The last reported sale price of the Company’s Class A
common stock on August 2, 2016, was $23.29 per share.
BofA Merrill Lynch will act as underwriter for the offering. The
underwriter may offer the shares from time to time to purchasers
directly or through agents, or through brokers in brokerage
transactions on The New York Stock Exchange, or to dealers in
negotiated transactions or in a combination of such methods of
sale, at a fixed price or prices, which may be changed, or at
market prices prevailing at the time of sale, at prices related to
such prevailing market prices or at negotiated prices.
The Company has filed a registration statement (including a
prospectus) with the SEC for the offering to which this
communication relates. Before you invest, you should read the
prospectus in that registration statement and other documents the
Company has filed with the SEC for more complete information about
the Company and this offering. You may obtain these documents for
free by visiting EDGAR on the SEC Web site at: www.sec.gov. Alternatively, copies of the
prospectus supplement and accompanying prospectus relating to the
offering, when available, may be obtained by contacting: Merrill
Lynch, Pierce, Fenner & Smith Incorporated, NC1-004-03-43, 200
North College Street, 3rd floor, Charlotte NC 28255-0001 Attn:
Prospectus Department, or by emailing
dg.prospectus_requests@baml.com, or by telephone at
1-800-294-1322.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy any securities nor will there be
any sale of these securities in any state or other 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 other jurisdiction.
Forward-looking Statements:
This press release includes "forward-looking statements" within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. All statements included herein, other than statements of
historical fact, may constitute forward-looking statements.
Although the Company believes that the expectations reflected in
such forward-looking statements are reasonable, it can give no
assurance that such expectations will prove to be correct.
Important factors that could cause actual results to differ
materially from the Company's expectations are disclosed in the
risk factors contained in the Company's 2015 Annual Report on Form
10-K filed with the Securities and Exchange Commission on February
29, 2016. All forward-looking statements are expressly qualified in
their entirety by such factors.
About Regal Entertainment Group:
Regal Entertainment Group (NYSE: RGC) operates the largest and
most geographically diverse theatre circuit in the United States,
consisting of 7,307 screens in 564 theatres in 42 states along with
Guam, Saipan, American Samoa and the District of Columbia as of
June 30, 2016. The Company operates theatres in 46 of the top 50
U.S. designated market areas. We believe that the size, reach and
quality of the Company’s theatre circuit not only provide its
patrons with a convenient and enjoyable movie-going experience, but
is also an exceptional platform to realize economies of scale in
theatre operations.
Additional information is available on the Company's website at
www.REGmovies.com.
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version on businesswire.com: http://www.businesswire.com/news/home/20160802007036/en/
Financial Contact:Kevin MeadRegal Entertainment GroupVice
President Investor Relations and
PlanningKevin.Mead@regalcinemas.com865-925-9685orMedia
Contact:Ken ThewesRegal Entertainment GroupSenior Vice
President and Chief Marketing Officer865-925-9539
Regal Entertainment (NYSE:RGC)
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