AMC Entertainment has filed to sell 15 million shares of common stock to raise fresh cash, the second exhibition distress call today after Regal parent Cineworld of the U.K. posted a brutal results for first six months of the year.
Regal is the largest circuit in the U.S., AMC the second. Exhibitors shut down in March and have opened slowly across many states but are still dark in key markets New York and Los Angeles and lack high-profile product to lure audiences used to sheltering in place.
AMC announced a large and complex debt restructuring over the summer that raised cash from note sales, cut interest expenses and pushed out maturities. Today it filed with the Securities and Exchange Commission to sell up to 15 million Class A common shares through Citigroup and Goldman Sachs. The last reported price before the filing was $4.78, AMC said. On midday Thursday, ACM stock...
Regal is the largest circuit in the U.S., AMC the second. Exhibitors shut down in March and have opened slowly across many states but are still dark in key markets New York and Los Angeles and lack high-profile product to lure audiences used to sheltering in place.
AMC announced a large and complex debt restructuring over the summer that raised cash from note sales, cut interest expenses and pushed out maturities. Today it filed with the Securities and Exchange Commission to sell up to 15 million Class A common shares through Citigroup and Goldman Sachs. The last reported price before the filing was $4.78, AMC said. On midday Thursday, ACM stock...
- 9/24/2020
- by Jill Goldsmith
- Deadline Film + TV
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