So much for last week’s breathless reports about how this secondary offering for 19.2M of Carl Icahn’s shares was put “on hold” due to a drop in Lionsgate’s stock price. The deal with Icahn requires Lionsgate to pay him $7 a share, which should then put an end to the billionaire’s effort to control the film and TV company. Lionsgate didn’t want to have to make up the difference if it couldn’t collect that much from this offering. That doesn’t seem to be a problem now; Lionsgate closed yesterday at $7.10.

OK, so how did Icahn fare in this Hollywood drama? Not well. He probably ends up with a slight profit on his Lionsgate stock, which cost him an average of $6.90 a share. But that likely was more than eaten up by the legal bills for his applications to the Securities Commission in British Columbia, the suits he lost in the Canadian province’s Supreme Court and Appeals Court, as well as cases at the New York Supreme Court and District Court. Here’s the announcement of the offering:

SANTA MONICA, Calif., and VANCOUVER, British Columbia, Oct. 13, 2011 /PRNewswire/ — Lions Gate Entertainment Corp. (the “Company”) (NYSE: LGF) announced today the pricing of a secondary public offering by certain investment funds affiliated with Carl Icahn of 19,201,000 of the Company’s common shares at a public offering price of $7.00 per share. Upon completion of the offering, the investment funds affiliated with Carl Icahn will own approximately 3.1% of the Company’s common shares. The selling shareholders have also granted the underwriter an option that expires on October 18, 2011 to purchase up to an additional 2,879,985 common shares to cover over-allotments, if any. The closing of the offering is expected to occur on October 18, 2011, subject to the satisfaction of customary closing conditions. Piper Jaffray & Co. is acting as the sole underwriter in the offering.

The Company will not receive any proceeds from the sale of the shares in the offering. The offering is conducted in conjunction with the agreement that the Company had entered into with Carl Icahn and certain of his affiliates on August 30, 2011. Pursuant to such agreement the Company has the ability, for 35 business days following the date of the agreement, to designate one or more parties, including pursuant to a registered offering, to purchase from certain affiliates of Carl Icahn up to 22,080,985 common shares at a price of $7.00 per share.

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