• 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
  • The Impact of Implied Volatility (IV) on Popular Options Trades
  • World Bank warns of global recession as growth forecasts cut for 2023
  • 2023 is not the year to own Target stock: Wells Fargo
  • PCE lowest since Nov 2021; Core index slips below 5%
Share
0
FacebookTwitterPinterestWhatsapp

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

You may also like

Deere & Co. shares surge after quarter results. Should you...

November 24, 2022

Please Follow Me Inside The Insiders

March 6, 2024

Jefferies analyst reveals her only buy-rated airline stock

November 24, 2022

Cramer’s take on Disney’s proxy fight with Nelson Peltz

January 13, 2023

How to play the Meta stock after a $725 million...

December 23, 2022

Why is Tesla stock falling? 2023 begins with 14% decline

January 4, 2023

The Impact of Implied Volatility (IV) on Popular Options Trades

March 8, 2024

Take cover as M2 growth hits zero and monetary lags...

December 30, 2022

Dow Jones, the S&P 500, and Nasdaq ahead of U.S....

November 27, 2022

3 global macro themes to watch in 2023

December 26, 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

    • Breakouts, Momentum & Moving Averages: 10 Must-See Stock Charts Right Now

      May 31, 2025
    • Leadership Rotation Could Confirm Corrective Phase

      May 30, 2025
    • Run Your Stock Portfolio Like a Pro Sports Team

      May 30, 2025
    • U.S. foreign tax bill sends jitters across Wall Street

      May 30, 2025
    • Amazon taps Xbox co-founder to lead new team developing ‘breakthrough’ consumer products

      May 30, 2025

    Popular Posts

    • 1

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

      June 27, 2024 2,765 views
    • 2

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

      August 9, 2024 2,472 views
    • 3

      Biden appointee played key role in recruiting Chinese...

      June 25, 2024 2,451 views
    • 4

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

      July 10, 2024 2,432 views
    • 5

      Harris VP pick spent years promoting research facility...

      August 29, 2024 2,308 views

    Categories

    • Economy (7,009)
    • Editor's Pick (2,106)
    • Investing (538)
    • Stock (2,581)

    Popular Posts

    • 1

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

      June 27, 2024
    • 2

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

      August 9, 2024
    • 3

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

      June 25, 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

    • Breakouts, Momentum & Moving Averages: 10 Must-See Stock Charts Right...

      May 31, 2025
    • Leadership Rotation Could Confirm Corrective Phase

      May 30, 2025
    • Run Your Stock Portfolio Like a Pro Sports Team

      May 30, 2025

    Categories

    • Economy (7,009)
    • Editor's Pick (2,106)
    • Investing (538)
    • Stock (2,581)

    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

    PayPal partners with MetaMask to allow...

    December 14, 2022

    JPMorgan stock double upgraded to ‘overweight’...

    December 6, 2022

    Should I buy Intel shares after...

    December 26, 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