AMC (AMC, $13.51) raises $428 mn in new equity...

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published in Blogs

May 13, 2021

AMC (AMC, $13.51) raises $428 mn in new equity capital

Movie theatre chain AMC Entertainment announced it has completed the offering of 43 million shares it launched on April 29.

The offering amounts to $428 million of new equity capital, before commissions and fees, at an average price of $9.94 a share.

The capital “will immediately buttress and fortify our liquidity profile,” CEO Adam Aron said, and “puts AMC in a stronger position to tackle the challenges and capitalize on the opportunities that lie ahead.”

AMC stock also has achieved interest among Reddit readers. About 133,000 Reddit interactions with the word “AMC" happened over the past week, according to Facebook’s CrowdTangle data tool, Bloomberg reported.

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