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AMC Entertainment Holdings, Inc. (NYSE: AMC) is the largest movie exhibition company in the United States, Europe, and globally, with around 900 theatres and 10,000 screens in operation. Known for its innovative amenities, AMC offers plush, power recliners, MacGuffins full bars, AMC Dine-In Theatres, and premium presentations, positioning itself as a leading destination for moviegoers.
Founded in 1968 as American Multi-Cinema, Inc., the company pioneered the multiplex theater concept, transforming single-screen theaters into multi-auditorium setups. AMC's dedication to enhancing the movie-going experience includes initiatives like the AMC Stubs rewards program launched in 2011 and its Subscription A-List program, offering members the chance to see multiple movies per week.
In recent years, AMC has shown resilience and adaptability in facing industry challenges. Despite the impacts of the COVID-19 pandemic and Hollywood strikes, the company has consistently exceeded revenue and earnings expectations. In the first quarter of 2024, AMC reported total revenues of approximately $951.4 million. AMC continues to innovate with its new AMC Theatres Distribution, which successfully released TAYLOR SWIFT | THE ERAS TOUR and RENAISSANCE: A FILM BY BEYONCÉ in 2023.
Furthermore, AMC’s Summer Movie Camp program offers affordable family entertainment, and its loyalty programs provide significant savings and benefits to movie lovers. Beyond traditional cinema, AMC is also a major stakeholder in Fathom Events, bringing unique content like documentaries and concert films to a broad audience.
AMC Theatres (NYSE:AMC) reported record post-reopening attendance over the weekend, attributed to the blockbuster release of F9: THE FAST SAGA. Approximately 2 million attendees visited U.S. locations, marking the highest turnout since March 2020. F9 earned an estimated $70 million in its opening weekend, the largest since late 2019. Internationally, AMC welcomed over 500,000 guests, bringing total global attendance to 2.5 million. CEO Adam Aron noted that a combination of vaccinations and major releases is revitalizing the cinema experience.
On June 21, 2021, Fathom Events announced the return of RiffTrax Live with two new shows featuring Michael J. Nelson, Kevin Murphy, and Bill Corbett. The live screenings of Hobgoblins and Amityville Horror: The Evil Escapes will take place on August 16 and October 26, 2021, respectively. Over the past twelve years, RiffTrax has successfully screened 34 unique titles, achieving over 1.1 million tickets sold and $14.6 million in revenue. The partnership continues to thrive as RiffTrax fans eagerly await the return to theaters.
AMC Entertainment Holdings, Inc. (NYSE: AMC) has disclosed its share count data stating there are 501,780,240 shares outstanding as of June 2, 2021. Around 4.1 million individual shareholders are eligible to vote in the upcoming Shareholder Meeting on July 29, 2021. Voting begins on June 16, with materials sent to investors shortly thereafter. AMC's President and CEO, Adam Aron, highlighted the growing investor interest, with over 80% of shares held by retail investors. The company aims to position itself for continued success as it approaches its 101st year.
AMC Entertainment Holdings, Inc. (NYSE: AMC) filed a preliminary proxy statement with the SEC for its 2021 Annual Meeting, set for July 29, 2021. Key proposals include increasing authorized share capital by 25 million shares, re-electing certain directors, appointing Ernst & Young LLP as auditors, approving executive compensation, and allowing adjournment of the meeting if necessary. AMC's Board recommends a favorable vote on all proposals. Voting is open from June 16 to July 28, 2021. CEO Adam Aron urges shareholders to participate in shaping AMC's future.
AMC Entertainment Holdings, Inc. has disclosed that as of June 2, 2021, there are 501,780,240 shares outstanding. Voting at the upcoming Shareholder Meeting on July 29 is limited to share holders whose trades settled by this date. Advance voting starts on June 16 and continues until July 28. AMC highlighted that some international brokers may restrict voting for their clients. The company also addressed inquiries about synthetic shares and has no plans for a stock split. Additionally, it noted that derivatives related to its stock do not convey voting rights.
AMC Entertainment Holdings, Inc. (NYSE: AMC) has successfully completed its at-the-market (ATM) equity program, raising approximately $587.4 million through the issuance of 11.550 million shares at an average price of $50.85 per share. This brings the total equity raised in the second quarter to $1.246 billion. AMC's President and CEO, Adam Aron, stated that this capital will enhance the company's balance sheet, providing flexibility for future challenges and opportunities.
AMC Entertainment Holdings has launched AMC Investor Connect, a communication initiative aimed at its 3 million retail shareholders. The platform allows direct interaction with shareholders, providing updates and special offers, such as a free large popcorn for the first movie visit. CEO Adam Aron emphasized the importance of engaging with AMC’s investors, who own over 80% of the company. The initiative coincides with the upcoming annual shareholder meeting on July 29, 2021, with the preliminary proxy statement expected to be filed on June 3, 2021.
AMC Entertainment announced an agreement to raise $230.5 million through the sale of 8.5 million shares of Class A Common stock at approximately $27.12 per share to Mudrick Capital. The proceeds will be used for acquiring additional theatre leases and enhancing existing theatres. CEO Adam Aron stated that this funding allows AMC to pursue valuable theatre assets aggressively. He emphasized that this equity raise represents less than 1.7% of issued share capital, providing substantial liquidity to take advantage of upcoming market opportunities.
The Metropolitan Opera premiered Yannick: An Artist's Journey, a documentary by Susan Froemke, chronicling Yannick Nézet-Séguin's rise to the Met's Music Director. The film showcases his journey through home videos and rehearsals, highlighting his first performances in the 2018–19 season. The documentary will screen in over 600 U.S. cinemas on July 7, 2021, along with the Summer Encore series featuring operas like Porgy and Bess, Carmen, and Tosca. Tickets are available at FathomEvents.com.
AMC Entertainment has announced the sale of most of its shares by its largest shareholder, the Wanda Group, via open market trading on the NYSE. Wanda, who acquired AMC in 2012 and took it public in 2013, remains a key partner through a strategy agreement for mutual benefit. AMC CEO Adam Aron praised Wanda's support over nearly a decade, highlighting their role in making AMC the top movie theater operator globally. Following this sale, two Wanda representatives are expected to resign from AMC's Board of Directors.
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