AMC plunges 23% premarket after announcing equity capital raise - Breaking The News
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AMC plunges 23% premarket after announcing equity capital raise

Business
Christian Baha / JG

1 min read

AMC

AMC Entertainment Holdings Inc. plummeted more than 23% on the premarket session Thursday after the announcement the company will raise $110 million of new equity capital via the sale of APE units to Antara Capital, LP, in two parts for $0.660 per share.

"All should know that our liquidity position is significantly enhanced, and our balance sheet is strengthened. We look forward to a growing industry box office in 2023 and beyond and also look forward to AMC continuing to benefit from our unique leadership position in the movie theatre industry," Adam Aron, Chairman, and CEO of AMC Entertainment, stated.

Nevertheless, in premarket trading at 8:54 am ET, the shares of AMC plummeted by 23.77% to sell for $4.04.

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