Six Flags, Cedar Fair to refinance revolving credit facilities

The merger is expected to close in the first half of 2024, following receipt of Six Flags (SIX) shareholder approval, regulatory approvals, and satisfaction of customary closing conditions. Approval by Cedar Fair (FUN) unitholders is not required. Six Flags’ largest shareholder, which owns approximately 13.6% of Six Flags’ shares outstanding, has signed a voting and support agreement to vote in favor of the transaction. The transaction is not expected to trigger any change of control provision under Cedar Fair’s and Six Flags’ respective outstanding Notes. The companies expect to refinance their respective revolving credit facilities, and Six Flags expects to refinance the Six Flags Term Loan, ahead of transaction close.