Marcus Corp to repurchase $46.4M of 5% convertible notes due 2025 for ~$53.9M cash

MARCUS CORP

Exchange of $46.401M aggregate principal of 5% convertible senior notes due 2025 for cash; net cost expected ~$47.4M after $6.5M capped call unwind cash.
Company entered into unwind agreements for capped call transactions; expects to receive approximately $6.5M in cash settlement.
Closing expected on July 16, 2024, subject to customary closing conditions.
Participating note holders may buy or sell common stock to unwind hedges, potentially affecting trading prices of stock and notes.
Repurchase price based on volume-weighted average stock price; assumes ~$10.68 per share as of June 17, 2024.

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