Cinema chain AMC Entertainment Holdings is looking to raise more fresh cash to survive the pandemic. On Thursday, the company in an SEC filing said it was considering selling from time to time, based on market conditions, up to 200 million shares of its common stock.
With stock in AMC Entertainment trading at $4.17 in morning trading on the New York Stock Exchange, the proposed offering could be worth as much as $834 million in new liquidity for the mega-exhibitor.
AMC added it intended to use the proceeds from the offering "for general corporate purposes, which may include the repayment, refinancing, redemption or repurchase of existing indebtedness or capital stock, working capital, capital expenditures and other investments." The latest.
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