Updated · AMC Entertainment Holdings, Inc. · Jun 11
AMC Completes $150 Million Share Sale, Raising Cash Through 105.3 Million Shares
Updated
Updated · AMC Entertainment Holdings, Inc. · Jun 11
AMC Completes $150 Million Share Sale, Raising Cash Through 105.3 Million Shares
2 articles · Updated · AMC Entertainment Holdings, Inc. · Jun 11
Summary
AMC said it finished its previously announced $150 million at-the-market equity offering, selling about 105.3 million shares before commissions and fees.
The company said the proceeds will lift cash reserves, strengthen its balance sheet and give it more flexibility to pursue strategic priorities.
AMC tied the capital raise to improving operating momentum, citing a record May box office and six films with domestic opening weekends above $75 million in the past 11 weeks.
Management said the added liquidity supports efforts to raise Adjusted EBITDA, cut leverage and invest in the guest experience as the theatrical exhibition industry continues recovering.