secwatch.observer — SEC 8-K summary
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Issuer:     MARCUS CORP (MCS)
CIK:        0000062234
Form:       8-K
Filed at:   2024-05-09T23:59:59+00:00
Accession:  0000062234-24-000031
Event type: debt
Sentiment:  neutral
Materiality: 0.70
Item codes: 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Marcus to repurchase $40M of 5% convertible notes due 2025 for ~$47M cash; expects $6.4M from capped call unwind
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- Entered purchase agreements with holders to exchange $40.0M aggregate principal of 5.00% Convertible Senior Notes due 2025 for cash, expected to close June 14, 2024.
- Aggregate cash repurchase price estimated at ~$47.0M (or ~$40.6M net of ~$6.4M from capped call unwind), based on a VWAP of $11.17.
- Company also entered unwind agreements to terminate a portion of Existing Capped Call Transactions, receiving ~$6.4M in cash for settlement.
- Holders may engage in open-market hedging activities that could affect trading prices of common stock and the Notes.
- Purchase price is subject to adjustment based on VWAP of MCS common stock during the measurement period.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/62234/000006223424000031/0000062234-24-000031-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/62234/000006223424000031/mcs-20240508.htm
  HTML page:      https://secwatch.observer/filing/0000062234-24-000031

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