Carmike Cinemas, Inc. (CKEC: Quote) said Wednesday that it has commenced an underwritten public offering of 4 million shares of its common stock.
In addition, the company expects to grant the underwriters a 30-day option to purchase up to an additional 600,000shares of common stock, on the same terms and conditions, to cover over-allotments, if any.
Carmike said it plans to use the net proceeds from the offering for general corporate purposes.
Macquarie Capital is acting as the sole book-running manager for the offering.
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by RTT Staff Writer
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