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RHI Entertainment, Inc. Sets Price for Initial Public Offering
NEW YORK-(Business Wire)-June 18, 2008 - 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.
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