May 17, 2002
"Cinemark, Inc. Files Public Offering"
Cinemark, Inc. announced today that it has filed a registration statement with the Securities and Exchanged Commission for a proposed public offering of its Class A common stock. The company intends to offer approximately $200,000,000 of Class A common stock which will be used by the company to pay down debt under three separate credit facilities that the Company currently has in place. All of the securities in the proposed IPO are being offered by Cinemark.
The offering will be made on a firm-commitment basis through a syndicate of underwriters led by sole book runner Lehman Brothers Inc. and joint lead manager Salomon Smith Barney Inc. and is expected to close in the third quarter of 2002.
Cinemark, Inc. is one of the world's leaders in the motion picture exhibition industry, operating a total of 3,014 screen, consisting of 2,215 screens located in North America and 799 screens in international markets, primarily located in Latin American metropolitan markets.
A registration statement relating to the Class A common shares to be sold in the public offering has been filed with the Securities and Exchange Commission but has not yet become effective. The Class A common shares may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This release shall not constitute an offer to sell or the solicitation of any offer to buy, nor shall there be any sale of the Class A common shares in any state in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state.