Six Flags Entertainment Corporation - FUN STOCK NEWS

Cedar Fair and Six Flags have announced the expected closing date of their merger on July 1, 2024.

The merger is contingent upon regulatory approvals and other conditions.

Six Flags' Board has also declared a special dividend of $1.53 per share, payable on July 1, 2024, for shareholders of record as of June 28, 2024.

This dividend is dependent on the merger's completion.

Upon the merger's closure, Cedar Fair’s units and Six Flags' common stock will be delisted from the NYSE, and the combined company will be renamed 'Six Flags Entertainment ,' trading under the ticker symbol 'FUN' starting July 2, 2024.

Six Flags Entertainment reported first quarter Revenue of $133 million, Net Loss of $83 million, and Adjusted EBITDA loss of $26 million for 2024. Despite a decrease in total revenue compared to 2023, the company sees a promising start to the 2024 season with increased season pass sales and pre-booked group sales. The company remains focused on delivering a world-class experience for guests and is excited to launch new rides and attractions for the peak summer season.

Cedar Fair reported solid first-quarter results with increased net revenues, attendance, and out-of-park revenues. The company completed a debt refinancing and declared a cash distribution of $0.30 per LP unit. Despite a net loss of $133 million, Cedar Fair remains optimistic about the positive trends for 2024. The proposed merger with Six Flags is progressing well, and the company continues to work with the Department of Justice on the review process. Cedar Fair's performance in the first quarter of 2024 showed improvements compared to the same period in 2023, despite additional costs related to the merger.

Cedar Fair, L.P. (NYSE: FUN) announced the successful closure of a $1.0 billion term loan B and a $300 million revolving credit facility. The company used the proceeds to redeem its outstanding notes due in May 2025 and to refinance its existing credit facility. The transaction was executed well due to strong market demand and financial performance. The new credit facilities will provide flexibility and favorable rates, with Goldman Sachs as the lead arranger.

Cedar Point's record-breaking Top Thrill 2 roller coaster, the world's tallest and fastest triple-launch strata coaster, opens to the public on May 4. The coaster features two 420-foot-tall track towers, an immersive racing experience, and speeds reaching up to 120 mph. Cedar Point continues its legacy of roller coaster innovation with this new addition, offering thrills for the whole family.

Schlitterbahn New Braunfels Waterpark is set to open Schatze’s Storybrook Park, featuring the world’s first water coaster for kids, along with three mini lands and various interactive water features. The park aims to enhance guest experience with new amenities such as additional seating, shade structures, and a souvenir shop. The Grand Opening is scheduled for Saturday, April 27, offering Season Passholders a preview of the new attraction. The park's commitment to providing innovative and refreshing fun for families is evident through these new additions.

Dorney Park & Wildwater Kingdom in Allentown, PA, unveils the Northeast's first dive roller coaster, Iron Menace, featuring a 95-degree, 160-foot drop and four inversions. The park's Preseason Preview Days start on April 27th, with the official Opening Day on May 10, 2024. The park will host a Ride for a Cause event benefiting the Eagles Autism Foundation on April 19th. Media coverage and interviews with park leaders can be arranged in person or via satellite feed. Satellite feed details are provided for remote coverage.

Cedar Fair, L.P. (FUN) announced a conditional full redemption of its 5.500% Senior Secured Notes due 2025, totaling $1.0 billion, on May 2, 2024, contingent upon a financing of at least $1.0 billion. The Redemption is subject to various conditions, with no guarantees of fulfillment. This press release provides details on the Redemption process but does not serve as an official notice.

Cedar Fair Entertainment Company (NYSE: FUN) will release its 2024 first-quarter financial results on May 9, 2024, followed by a conference call discussing the results and business outlook with key executives. Investors can access the live webcast on Cedar Fair's investor site.