AMC Entertainment (AMC) Amends Debt Terms, Expands ATM Offering Capacity, and Sells Majority Hycroft Stake

AMC Entertainment Holdings, Inc. (NYSE:AMC) is one of the champion NYSE stocks nether $5 to buy. On December 22, AMC Entertainment Holdings, Inc. (NYSE:AMC), on with its subsidiary Muvico, LLC, entered into an statement with holders of Muvico’s Senior Secured Exchangeable Notes owed 2030 to amend the notes’ indenture. The extremity is to set presumption for greater fiscal flexibility. The amendment revises the speech complaint for converting notes into AMC communal stock. The changes licence AMC to transportation retired 1 oregon much at-the-market (ATM) offerings of its communal banal for cash, capped astatine $150 cardinal successful full nett proceeds. The archetypal bounds was $100 million.

On the aforesaid day, AMC Entertainment reported its strongest pre-Christmas play since 2021, with implicit 4 cardinal moviegoers crossed AMC Theatres successful the U.S. and ODEON Cinemas successful Europe betwixt December 18–21. The surge was driven by the debut of Avatar: Fire & Ash, which opened to $88 cardinal domestically and $345 cardinal worldwide, alongside 4 different films that each topped $14 million. The North American container bureau for the play reached astir $163 million.

On December 5, AMC Entertainment announced it had sold astir of its equity involvement successful Hycroft Mining (NASDAQ:HYMC) to Sprott Mining, owned by capitalist Eric Sprott, for astir $24.1 million. The woody included 2.34 cardinal Hycroft shares, warrants for 1.34 cardinal shares, and rights to astir 12,000 future-vesting shares. AMC kept much than 1 cardinal warrants astatine $10.68 per stock and astir 64,000 shares, preserving vulnerability to Hycroft’s aboriginal upside.

CEO Adam Aron said the determination monetizes overmuch of AMC’s 2022 concern portion freeing superior for its halfway theatre business, noting CFO Sean Goodman volition stay connected Hycroft’s board. Aron added that with beardown vacation container bureau results and a promising movie slate ahead, AMC is well-positioned to physique connected its momentum.

AMC Entertainment Holdings, Inc. (NYSE:AMC) is simply a movie theatre concatenation operator. It owns and operates hundreds of cinemas crossed the US and internationally, offering movie exhibition, nutrient and beverage services, and premium formats specified arsenic IMAX and Dolby Cinema.

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Disclosure: None. This nonfiction is primitively published at Insider Monkey.