Marcus Corp to repurchase $13.5M of convertible notes due 2025; net cash outlay ~$15.3M after capped call unwind

MARCUS CORP

Enters purchase agreements to exchange $13.5M aggregate principal of 5% convertible notes due 2025 for cash.
Final repurchase price ~$19.9M based on VWAP of $14.86; net cash outlay ~$15.3M after $4.6M capped call unwind.
Separate unwind agreements with capped call counterparties to terminate corresponding hedges, yielding ~$4.6M cash to Marcus.
Transactions expected to close October 11, 2024, subject to customary conditions.

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