Exhibit 99.1
| | |
For Immediate Release | | News Announcement |
Cinemark USA, Inc. Announces the Expiration of the Cash Tender Offer for Any and All of Cinemark USA,
Inc.’s 5.875% Senior Notes due 2026
PLANO, Texas – July 16, 2024— Cinemark Holdings, Inc. (NYSE:CNK) (“Cinemark” or the “Company”) announced today that the previously announced cash tender offer by its wholly-owned subsidiary, Cinemark USA, Inc. (“Cinemark USA”), to purchase any and all of Cinemark USA’s 5.875% senior notes due 2026 (the “notes”) expired at 5:00 p.m., New York City time, on July 15, 2024 (the “Expiration Date”). As of the Expiration Date, $345,285,000 aggregate principal amount of the notes (85.26%) were validly tendered, which excludes $1,956,000 aggregate principal amount of the notes that remain subject to guaranteed delivery procedures. Cinemark USA expects to accept for payment all notes validly tendered and not validly withdrawn in the tender offer and expects to make payment for the notes on July 18, 2024.
Wells Fargo Securities, LLC acted as dealer manager. Persons with questions regarding the tender offer should contact Wells Fargo Securities, LLC at (704) 410-4235 (collect) or (866) 309-6316 (toll-free), or the information agent and tender agent, D.F. King & Co., Inc., at (800) 347-4826 (toll-free) or for banks and brokers, at (212) 269-5550 (Banks and Brokers only), by e-mail at cinemark@dfking.com or at the following web address: www.dfking.com/cinemark.
This press release is not an offer to purchase or a solicitation of an offer to sell any securities and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale is unlawful, and does not constitute a redemption notice for any securities.
About Cinemark:
Headquartered in Plano, TX, Cinemark (NYSE: CNK) is one of the largest and most influential movie theatre companies in the world. Cinemark’s circuit, comprised of various brands that also include Century, Tinseltown and Rave, as of March 31, 2024 operated 502 theatres with 5,708 screens in 42 states domestically and 13 countries throughout South and Central America. Cinemark consistently provides an extraordinary guest experience from the initial ticket purchase to the closing credits, including Movie Club, the first U.S. exhibitor-launched subscription program; the highest Luxury Lounger recliner seat penetration among the major players; XD—the No. 1 exhibitor-brand premium large format; and expansive food and beverage options to further enhance the moviegoing experience.
Investor Relations Contact:
Chanda Brashears
(972) 665-1671
cbrashears@cinemark.com
Media Contact:
Julia McCartha
(972) 665-1322
pr@cinemark.com
Forward-looking Statements
This press release includes “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on information currently available as well as management’s assumptions and beliefs today. These statements are subject to numerous risks and uncertainties that could cause actual results to differ materially from the results expressed or implied by the statements, and investors