New Line files with SEC to offer 2 million shares

As expected, New Line Cinema has filed paperwork with the Securities & Exchange Commission for a proposed public offering of 2 million common shares.

In addition, the company has granted to the underwriters an option to purchase up to an additional 300,000 shares to cover any over-allotments.

Morgan Stanley & Co., Donaldson, Lufkin & Jenrette Securities Corp., Furman Selz Inc. and Kidder, Peabody & Co. will manage the offering.

New Line expects to use the net proceeds from the offering for general corporate purposes, including the financing of its production and acquisition of new film projects. Initially all of the net proceeds will be used to reduce debt under the company’s credit facility.

Filed Under:

Want to read more articles like this one? SUBSCRIBE TO VARIETY TODAY.
Post A Comment 0

Leave a Reply

No Comments

Comments are moderated. They may be edited for clarity and reprinting in whole or in part in Variety publications.

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

More Biz News from Variety

Loading