Lionsgate sets cost for Icahn shares

Lionsgate has had a vital step toward finishing its settlement with billionaire Carl Icahn and the boy Brett Icahn to market almost all of their 33% stake within the minimajor. The organization introduced Thursday it has listed another public offering for 19.two million from the shares held through the Icahns at $7 a share. The organization did not identify potential purchasers. Lionsgate stated Thursday it needs to shut the offering on Tuesday which once it's completed, the Icahns will own roughly 3.1% of the organization. Shares of Lionsgate were off 5 cents to $7.05 on Thursday in mid-session buying and selling. Lionsagte and Icahn had introduced August. 30 that they are ending 3 years of fighting within an agreement to market his 33% stake in the organization at $7 a share via a number of deals amassing about $309 million. The settlement known as for Lionsgate to purchase back 11 million shares from Icahn at $7 a share as well as for Lionsgate director Mark H. Rachesky to buy one more 11 million shares from Icahn at $7 per share. Piper Jaffray and Co. is serving as the only underwriter within the offering. Contact Dork McNary at dork.mcnary@variety.com