AMC Stock Sale Creates Bigger Safety Net, Says Analyst

AMC Entertainment Holdings stock is rising Thursday after the movie-theater chain sold $325.5 million of stock, in a move that a B. Riley analyst says provides “an increased near-term liquidity safety net.”

In August 2022, AMC introduced about 517 million preferred equity units, or APEs, to be traded on the New York Stock Exchange, and in August 2023, AMC completed a 1-for-10 reverse stock split—reducing the number of shares outstanding. Each APE unit then converted to one post-split AMC shares. Newsletter Sign-up “The completion of this ATM equity offering significantly boosts AMC’s cash reserves, addresses current liquidity concerns, and fortifies the balance sheet,” the company said in its news release.

Entertainment Entertainment Latest News, Entertainment Entertainment Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

AMC stock continues rally, extends winning streak to three daysShares of AMC Entertainment Holdings Inc. continued their rally Wednesday, ending the session up 8.9% for their largest single-day percentage gain since Aug....
Source: MarketWatch - 🏆 3. / 97 Read more »

AMC stock rises 7.5% in premarket tradesShares of AMC Entertainment Holdings Inc. continued their rally in premarket trades Thursday, rising 7.5%. The stock ended Wednesday’s session up 8.9% for...
Source: MarketWatch - 🏆 3. / 97 Read more »

AMC Entertainment Stock Pops As It Raises Fresh Cash In Stock Sale; Talk Of “Financial Collapse” Now Moot, Says CEOAMC Entertainment shares rallied as the company completed a previously disclosed equity offering, raising about $325.5 million of new capital. The company said it sold 40 million shares at an avera…
Source: DEADLINE - 🏆 109. / 63 Read more »