AMC Entertainment Holdings, Inc.
(NYSE:AMC) shares are trading lower on Thursday, following the company's morning announcement that it closed its previously announced registered direct offering of 95,250,000 shares of common stock.
The transaction raised gross proceeds of approximately $200 million before agent fees and expenses, resulting in equity dilution for shareholders. • AMC Entertainment shares are retreating from recent levels.
What's weighing on AMC shares?
Debt Redemption Plans According to the company's press release, AMC intends to use the net proceeds primarily to call and redeem all $125,471,000 aggregate principal amount of its 6.125% Senior Subordinated Notes due 2027.
