Brief: Lionsgate Studios To Launch As A Separately Traded Public Company

Lions Gate Entertainment

22/12/2023 13:10

Dec 22 (Reuters) - Lions Gate Entertainment Corp:
    * LIONSGATE STUDIOS TO LAUNCH AS A SEPARATELY TRADED PUBLIC
COMPANY
    * LIONS GATE ENTERTAINMENT CORP: UPSIZED $175 MILLION IN
COMMITTED
PIPE (PRIVATE INVESTMENT IN PUBLIC EQUITY) FINANCING LED BY TOP
MUTUAL FUND INVESTORS
    * LIONSGATE- DEAL EXPECTED TO RAISE APPROXIMATELY $350 MLN
OF
TOTAL GROSS PROCEEDS
    * LIONS GATE ENTERTAINMENT CORP: LIONSGATE IS EXPECTED TO
MAINTAIN
ITS CURRENT CORPORATE DEBT STRUCTURE IN THIS TRANSACTION.
    * LIONS GATE: SCREAMING EAGLE FOUNDERS AND INDEPENDENT
DIRECTORS
WILL COLLECTIVELY FORFEIT APPROXIMATELY 14.5 MILLION OF THEIR
FOUNDER SHARES
    * LIONS GATE ENTERTAINMENT CORP: SCREAMING EAGLE FOUNDERS
AND
INDEPENDENT DIRECTORS WILL RETAIN ABOUT 2.0 MILLION COMMON
SHARES UPFRONT
    * LIONS GATE ENTERTAINMENT- COMMON SHARES OF LIONSGATE
STUDIOS
WILL TRADE AS SINGLE CLASS OF STOCK SEPARATELY FROM LIONSGATE
CLASS A AND CLASS B SHARES
    * LIONS GATE: SCREAMING EAGLE FOUNDERS WILL BE ENTITLED TO
GET
ADDITIONAL 2.2 MILLION SHARES IF TRADING PRICE OF LIONSGATE
STUDIOS RISES 50% FROM $10.70
    * LIONS GATE ENTERTAINMENT CORP: LIONSGATE STUDIOS DOES NOT
INCLUDE STARZ PLATFORM, WHICH WILL CONTINUE TO BE WHOLLY OWNED
BY LIONSGATE.
    * LIONS GATE ENTERTAINMENT CORP- UPON CLOSING, EXPECTED
LIONSGATE
SHAREHOLDERS WILL INDIRECTLY OWN AN APPROXIMATELY 87.3% STAKE IN
LIONSGATE STUDIOS
    * LIONS GATE ENTERTAINMENT CORP: AS A RESULT OF TRANSACTION,
87.3%
OF TOTAL SHARES OF LIONSGATE STUDIOS ARE EXPECTED TO CONTINUE TO
BE HELD BY LIONSGATE
    * LIONS GATE ENTERTAINMENT- EXPECTED THAT SCREAMING EAGLE
PUBLIC
SHAREHOLDERS, FOUNDERS TO OWN ABOUT 5.7%, 0.7% OF LIONSGATE
STUDIOS RESPECTIVELY
    * LIONS GATE ENTERTAINMENT CORP: TRANSACTION IS EXPECTED TO
CLOSE
IN SPRING OF 2024.
    * LIONS GATE: ITS STUDIO BUSINESS WILL BE COMBINED WITH
SCREAMING
EAGLE ACQUISITION CORP TO LAUNCH LIONSGATE STUDIOS
    * LIONS GATE ENTERTAINMENT CORP-  EXPECTED THAT PIPE
INVESTORS
WILL OWN 6.3% OF LIONSGATE STUDIOS UPON CLOSING OF TRANSACTION

Source text for Eikon:  ID:nPn1TC0rda 
Further company coverage:  SCRM.O 

 ((Reuters.Briefs@thomsonreuters.com;))