Here from Variety, Ichan buys more stock from mini-Major Lionsgate to total his shares at 20.11 million. That’s just under 20%.If Ichan reaches his 20% then:
Ownership of more than 20% could cause a default on Lionsgate’s $340 million revolving credit line under the company’s change of control provisions.
So, read full article here
Keep an eye on this because the mini-major is fast becoming a scare specimen!