Carmike Cinemas Announces Full Exercise of Over-Allotment Option in Common Stock Offering

  Carmike Cinemas Announces Full Exercise of Over-Allotment Option in Common
  Stock Offering

Business Wire

COLUMBUS, Ga. -- August 16, 2013

Carmike Cinemas, Inc. (NASDAQ: CKEC) today announced the full exercise of the
over-allotment option granted to the underwriters to purchase an additional
675,000 shares of Carmike’s common stock, at a price to the public of $18.00
per share, in connection with Carmike’s previously announced underwritten
public offering, bringing the net proceeds from the offering to approximately
$88.1 million, after deducting underwriting discounts and estimated offering
expenses. The closing of the over-allotment option occurred today, August 16,

Carmike plans to use the net proceeds from this offering for potential
acquisitions, working capital, capital expenditures or other general corporate

Macquarie Capital acted as the sole bookrunning manager for the offering. B.
Riley & Co., Wedbush Securities, Barrington Research, Maxim Group LLC and
Ascendiant Capital Markets, LLC acted as co-managers.

The offering was made pursuant to Carmike’s effective shelf registration
statement (File No. 333-167383) previously filed with the Securities and
Exchange Commission (“SEC”). This press release is neither an offer to sell
nor a solicitation of an offer to buy any securities. Copies of the final 
prospectus supplement and related prospectus can be obtained at the SEC’s
website,, or from Macquarie Capital (USA) Inc., Attn: Prospectus
Department, 125 West 55th St, 22nd Floor, New York, NY 10019, or by calling
+1.888.268.3937, or by e-mailing

About Carmike Cinemas (

Carmike Cinemas, Inc. is a U.S. leader in digital cinema, 3-D cinema
deployments and one of the nation’s largest motion picture exhibitors. As of
June 30, 2013, the Company had 245 theatres with 2,476 screens in 35 states,
with a digital footprint of 2,373 screens, including 227 locations with 940
screens also equipped for 3-D. The circuit includes 19 “Big D” large format
digital experience auditoriums, featuring state-of-the-art equipment and
luxurious amenities, as well as 7 IMAX^® auditoriums. As “America’s Hometown
Theatre Chain,” Carmike’s primary focus is small to mid-sized community

Disclosure Regarding Forward-Looking Statements

This press release and other written or oral statements made by or on behalf
of Carmike Cinemas, Inc. (the “Company”) 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 the Company’s expectations regarding the common stock offering and use
of net proceeds. 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 our senior secured credit agreement and the indenture
governing our 7.375% Senior Secured Notes due 2019; 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; 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.


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