AMC Completes At the Market Equity Program

Rhea-AI Summary

AMC Entertainment Holdings has successfully completed its at-the-market equity program, initially announced in January 2021. This program involved an equity distribution agreement allowing the sale of 50 million shares of Class A common stock. In total, AMC sold 63.3 million shares through this program and a prior one, yielding approximately $304.8 million in proceeds. AMC remains a leading player in the movie exhibition industry, operating around 1,000 theatres and 10,700 screens globally, renowned for its innovative seating and enhanced guest experiences.

Positive

• Successfully raised $304.8 million through equity sales.
• Completed the at-the-market equity program as planned.
• Maintains status as the largest movie exhibition company globally.

Negative

• None.

AMC Entertainment Holdings, Inc. (“AMC” or the “Company”) (NYSE:AMC) announced today that it has completed its previously announced at-the-market equity program.

In its 8-K filing with the U.S. Securities and Exchange Commission on January 25, 2021, AMC announced entry into an equity distribution agreement with respect to an additional at-the-market equity program relating to 50 million shares of its Class A common stock.

That program has now been completed. Together with the remaining shares under a prior program, since the Company’s January 25, 2021 announcement, the Company has sold in aggregate 63.3 million additional shares of its Class A common stock for additional proceeds of $304.8 million.

About AMC Entertainment Holdings, Inc.

AMC is the largest movie exhibition company in the United States, the largest in Europe and the Middle East, and the largest throughout the world with approximately 1,000 theatres and 10,700 screens across the globe. AMC has propelled innovation in the exhibition industry by: deploying its Signature power-recliner seats; delivering enhanced food and beverage choices; generating greater guest engagement through its loyalty and subscription programs, web site and mobile apps; offering premium large format experiences and playing a wide variety of content including the latest Hollywood releases and independent programming.

Source: AMC Entertainment Holdings Inc.

Category: Company Release

View source version on businesswire.com: https://www.businesswire.com/news/home/20210127005752/en/

FAQ

What is the recent announcement by AMC regarding its equity program?

AMC has completed its at-the-market equity program, raising approximately $304.8 million.

How many shares did AMC sell in its equity program?

AMC sold a total of 63.3 million shares of its Class A common stock.

What financial impact did AMC's equity program have?

The program generated additional proceeds of $304.8 million for AMC.

When did AMC announce its entry into the equity distribution agreement?

AMC announced the equity distribution agreement on January 25, 2021.

How many theatres and screens does AMC operate worldwide?

AMC operates approximately 1,000 theatres and 10,700 screens globally.