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AMC Entertainment Stock Sale To Raise $230 Million For Acquisitions; In Talks With Landlords Of Former Arclight Cinemas and Pacific Theatres
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deadline.comTheater chain AMC Entertainment said early Tuesday it’s agreed to sell 8.5 million shares to Mudrick Capital Management, raising $230.5 million in cash that it will use for acquisitions.The equity was raised at a price of approximately $27.12 per share.
Proceeds from this share sale primarily will be used for the pursuit of “value creating acquisitions” of additional theater leases, “investments to enhance the consumer appeal of AMC’s existing theatres” and deleveraging, the company said.“Given our scale, experience and commitment to innovation and excellence, AMC is being presented with highly attractive theatre acquisition opportunities.
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