Carmike Cinemas Files $225 Million Shelf Registration Statement to Replace Expiring Shelf Registration Statement

  Carmike Cinemas Files $225 Million Shelf Registration Statement to Replace
  Expiring Shelf Registration Statement

Business Wire

COLUMBUS, Ga. -- June 20, 2013

Carmike Cinemas, Inc. (NASDAQ: CKEC) today announced that it has filed a shelf
registration statement on Form S-3 with the Securities and Exchange Commission
(SEC). This filing, upon effectiveness, will replace an existing shelf
registration statement filed in June 2010, which is scheduled to expire August
20, 2013. Under the shelf registration, upon being declared effective by the
SEC, the Company may sell, from time to time, up to $225 million of its common
stock, depositary shares, preferred stock and/or warrants, either individually
or in units, in one or more offerings. Debt securities have not been included
under this shelf registration because the Company has the ability to conduct
any future debt offerings in transactions exempt from the registration
requirements of the Securities Act of 1933, including pursuant to Rule 144A
under the Securities Act.

The shelf registration statement is intended to provide Carmike with
flexibility to access additional capital when market conditions are
appropriate. However, the Company does not currently have any plans to sell
securities. The terms of any offering under the shelf registration statement
will be established at the time of the offering. Unless otherwise described in
a prospectus supplement filed at the time of an offering, the net proceeds
from the sale of any securities will be used for general corporate purposes,
which may include repayment of debt, acquisitions, capital expenditures and
additions to working capital.

The registration statement relating to these securities was filed with the SEC
but has not yet become effective. These securities may not be sold, nor may
offers to buy the securities be accepted prior to the time the registration
statement becomes effective. This news announcement shall not constitute an
offer to sell or the solicitation of an offer to buy, nor shall there be any
sale of securities in any jurisdiction in which such offer, solicitation or
sale would be unlawful prior to registration or qualification under the
securities laws of any such jurisdiction. Any offering of the securities will
be made solely by means of a prospectus and an accompanying prospectus
supplement relating to that offering. A copy of the prospectus included in the
registration statement may be obtained on the SEC’s website at www.sec.gov.

About Carmike Cinemas

Carmike Cinemas, Inc. is a U.S. leader in digital cinema and 3-D cinema
deployments and one of the nation’s largest motion picture exhibitors. As of
March 31, 2013, Carmike had 244 theatres with 2,464 screens in 35 states.
Carmike’s digital cinema footprint reached 2,369 screens, including 232
theatres with 869 screens that are also equipped for 3-D. The circuit also
includes 18 “BIG D” large format digital experience auditoriums, featuring
state-of-the-art equipment and luxurious seating and 7 IMAX^® auditoriums. As
“America’s Hometown Theatre Chain,” Carmike’s primary focus for its locations
is small to mid-sized communities.

Disclosure Regarding Forward-Looking Statements

This press release and other written or oral statements made by or on behalf
of Carmike contain forward-looking statements within the meaning of the
federal securities laws. Statements that are not historical facts, including
statements about our beliefs, expectations and future performance, are
forward-looking statements. Forward-looking statements include statements
preceded by, followed by or that include the words, “believes,” “expects,”
“anticipates,” “plans,” “estimates” or similar expressions. Examples of
forward-looking statements in this press release include our expectations
regarding the shelf registration statement (including its effectiveness and
timing of potential offerings) and our use of the net proceeds from any
offering pursuant to the shelf registration statement. Forward-looking
statements are only predictions and are not guarantees of performance. These
statements are based on beliefs and assumptions of management, which in turn
are based on currently available information. The forward-looking statements
also involve risks and uncertainties, which could cause actual results to
differ materially from those contained in any forward-looking statement. Many
of these factors are beyond our ability to control or predict. Important
factors that could cause actual results to differ materially from those
contained in any forward-looking statement include, but are not limited to:
our ability to achieve expected results from our strategic acquisitions,
general economic conditions in our regional and national markets; our ability
to comply with covenants contained in the agreements governing our
indebtedness; our ability to operate at expected levels of cash flow;
financial market conditions including, but not limited to, changes in interest
rates and the availability and cost of capital; our ability to meet our
contractual obligations, including all outstanding financing commitments; the
availability of suitable motion pictures for exhibition in our markets;
competition in our markets; competition with other forms of entertainment; the
effect of our leverage on our financial condition; prices and availability of
operating supplies; the impact of continued cost control procedures on
operating results; the impact of asset impairments; the impact of terrorist
attacks; changes in tax laws, regulations and rates; financial, legal, tax,
regulatory, legislative or accounting changes or actions that may affect the
overall performance of our business and other factors, including the risk
factors disclosed in our Annual Report on Form 10-K for the year ended
December 31, 2012 under the caption “Risk Factors.” We believe these
forward-looking statements are reasonable; however, undue reliance should not
be placed on any forward-looking statements, which are based on current
expectations. Further, forward-looking statements speak only as of the date
they are made, and we undertake no obligation to update publicly any of them
in light of new information or future events.

Contact:

JCIR – Investor Relations/Corporate Communications
Robert Rinderman or Jennifer Neuman, 212-835-8500
ckec@jcir.com
or
Carmike Cinemas, Inc.
Richard B. Hare, 706-576-3416
Chief Financial Officer
 
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