RHI Entertainment, Inc. (“RHI”)
(NASDAQ:RHIE) today announced that the initial public offering of
13,500,000 shares of its common stock has priced at $14.00 per share.
All of the shares are being sold by RHI. In addition, RHI has granted
the underwriters a 30-day option to purchase an additional 2,025,000
shares. RHI intends to use the net proceeds from the sale of its shares,
along with additional proceeds from other financing transactions, to
repay its existing senior second lien credit facility in full, to fund a
distribution to an affiliate, KRH Investments LLC, in order for KRH to
pay its unsecured term loan facility in full, and to pay other fees and
expenses in connection with its reorganization.
J.P. Morgan Securities Inc. and Banc of America Securities LLC acted as
joint book-running managers for the offering, and Thomas Weisel Partners
LLC and Cowen and Company acted as co-managers. A registration statement
relating to this offering was filed with and declared effective by the
Securities and Exchange Commission. The offering is being made solely by
means of a prospectus. This press release shall not constitute an offer
to sell or a solicitation of an offer to buy any securities, and there
shall not be any sale of these securities in any state or jurisdiction
in which such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state or jurisdiction. A copy of the final prospectus related to this
offering may be obtained from: (1) J.P. Morgan Securities Inc. by mail
at Chase Distribution & Support Service, Attn: Charles Buckheit/Bob
Foley, 4 Chase Metrotech Center, CS Level, Brooklyn, New York 11245 or
by telephone at (718) 242-8002; or (2) Banc of America Securities LLC by
email at dg.prospectus_distribution@bofasecurities.com
or by mail at Banc of America Securities LLC, Capital Markets
Operations, 100 West 33rd Street, 3rd
Floor, New York, New York 10001.
About RHI
RHI Entertainment develops, produces and distributes new
made-for-television movies, miniseries and other television programming
worldwide, and is the leading provider of new long-form television
content in the U.S. RHI has produced and distributed thousands of hours
of quality television programming, and RHI’s
productions have received more than 100 Emmy Awards. During 2007, RHI
developed, produced and distributed 43 new television movies and
miniseries to broadcast and cable networks around the world. In addition
to the development, production and distribution of new content, RHI owns
rights to more than 1,000 titles, or over 3,500 broadcast hours of
long-form television programming, which are licensed to broadcast and
cable networks and new media outlets globally.
This press release may contain forward-looking statements that reflect
RHI’s current views with respect to future
events and business performance. Those forward-looking statements are
subject to certain risks and uncertainties and the company actual
results could differ materially from those discussed in the
forward-looking statements.
Sloane & Company
Whit Clay, 212-446-1864
wclay@sloanepr.com
or
Elizabeth
Fluke, 212-446-1887
efluke@sloanepr.com