• Investing
  • Stock
Round Table Thoughts
  • Economy
  • Editor’s Pick
Home Investing AMC shares opened 25% down on Thursday: find out more
Investing

AMC shares opened 25% down on Thursday: find out more

by December 22, 2022
by December 22, 2022 0 comment
Share
0
FacebookTwitterPinterestWhatsapp

Shares of AMC Entertainment Holdings Inc (NYSE: AMC) opened about 25% down this morning after the cinema chain revealed plans of raising new equity.

Antara Capital to buy its APE units

On Thursday, the Leawood-headquartered firm said it plans on selling its “APE” units at a price of 66 cents (weighted average) to one of its current debt holders – Antara Capital LP. The press release also added:

Antara will also exchange $100 million principal amount of 2nd Lien Notes due 2026 for approximately 91 million APE units, thereby reducing AMC’s outstanding debt by $100 million.

That will reduce its annual interest expense by roughly $10 million.

Initially, Antara will buy 60 million of its APE units – and the rest of it will be executed later on. Versus the start of 2022, AMC shares are now down about 85%.

AMC shares down on proposed reverse split

Also on Thursday, its Board of Directors proposed a 1 for 10 reverse stock split. AMC also wants to convert its APE units into common shares that will further dilute its current shareholders.

The movie theatre company is yet to secure approval from its investors for these proposals that are subject to other customary closing conditions as well. According to CEO Adam Aron:

Our liquidity is now significantly enhanced, and balance sheet strengthened. We look forward to a growing box office in 2023 and beyond and AMC continuing to benefit from its unique leadership position in movie theatre industry.

Last month, AMC Entertainment Holdings Inc reported a better-than-expected third quarter that, nonetheless, failed to meaningfully benefit AMC shares.

The post AMC shares opened 25% down on Thursday: find out more appeared first on Invezz.

You Might Also Like
  • FTSE 100 forecast for December 2022
  • Core Scientific reveals $434 million loss in Q3
  • Walgreens stock price forecast: Cowen sees another 30% upside
  • Galaxy to acquire Helios Bitcoin mining facility from Argo Blockchain
Share
0
FacebookTwitterPinterestWhatsapp

previous post
Risky Business: A Review
next post
On the Need to Theorize Carefully

You may also like

Will house prices fall as a recession threatens? A Report

January 16, 2023

Peloton is on a path to penny stock status in...

December 28, 2022

Bitcoin remains vulnerable near $16k amid FTX contagion

November 23, 2022

These two stocks could benefit from Southwest Airlines flight cancellations

December 28, 2022

SPX Options vs. SPY Options: Which Should I Trade?

March 15, 2024

Should you buy or sell the S&P 500 index after...

December 20, 2022

A preview of the December NFP report and its implications...

November 30, 2022

How Investment Trading Can Help Grow Your Business

January 16, 2023

Nexo announces gradual exit from the United States

December 6, 2022

3 scenarios for the US economy in 2023

November 30, 2022

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • How to Find Compelling Charts in Every Sector

      July 10, 2025
    • White House accuses Powell of mismanaging Federal Reserve, citing headquarters renovation

      July 10, 2025
    • Italian chocolate giant Ferrero to buy Kellogg’s Froot Loops maker

      July 10, 2025
    • OpenAI to release web browser in challenge to Google Chrome

      July 10, 2025
    • Sports executive charged with bid-rigging in Texas arena project

      July 10, 2025

    Popular Posts

    • 1

      Biden appointee played key role in recruiting Chinese...

      June 25, 2024 3,631 views
    • 2

      Trump-era China sanctions ended by Biden may be...

      June 27, 2024 2,919 views
    • 3

      Walz’s honeymoon with China gets fresh scrutiny as...

      August 9, 2024 2,607 views
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful...

      July 10, 2024 2,577 views
    • 5

      Harris VP pick spent years promoting research facility...

      August 29, 2024 2,451 views

    Categories

    • Economy (7,009)
    • Editor's Pick (2,171)
    • Investing (538)
    • Stock (2,662)

    Popular Posts

    • 1

      Biden appointee played key role in recruiting Chinese businesses to Delaware: ‘Longtime friends’

      June 25, 2024
    • 2

      Trump-era China sanctions ended by Biden may be revived under new House GOP bill

      June 27, 2024
    • 3

      Walz’s honeymoon with China gets fresh scrutiny as Harris camp blasts ‘lying’ critics

      August 9, 2024
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful of Chinese spy threats

      July 10, 2024
    • 5

      Harris VP pick spent years promoting research facility that collaborated with ‘Chinese military company’

      August 29, 2024

    Latest News

    • How to Find Compelling Charts in Every Sector

      July 10, 2025
    • White House accuses Powell of mismanaging Federal Reserve, citing headquarters...

      July 10, 2025
    • Italian chocolate giant Ferrero to buy Kellogg’s Froot Loops maker

      July 10, 2025

    Categories

    • Economy (7,009)
    • Editor's Pick (2,171)
    • Investing (538)
    • Stock (2,662)

    Disclaimer: RoundTableThoughts.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 RoundTableThoughts.com. All Rights Reserved.

    Round Table Thoughts
    • Investing
    • Stock
    Round Table Thoughts
    • Economy
    • Editor’s Pick

    Read alsox

    Netflix stock is the ‘best recession...

    December 12, 2022

    Is America a part-time economy? Half...

    January 9, 2023

    US inflation remains elevated but falling...

    December 13, 2022
    Sign In

    Keep me signed in until I sign out

    Forgot your password?

    Password Recovery

    A new password will be emailed to you.

    Have received a new password? Login here