AMC Looks to Pay Down Debt With Several Exchange Agreements

InvestorPlace01-04

AMC Entertainment (AMC) has entered into several debt-for-equity agreements in recent weeks.This comes after the company completed its $350 million at-the-market offering last month.AMC stock is down ...

Source Link

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/1137673549?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2024-01-04 11:09","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"1137673549","market":"us","top_or_hot":-1,"title":"AMC Looks to Pay Down Debt With Several Exchange Agreements","media":"InvestorPlace","content":"<div>\n<p>AMC Entertainment (AMC) has entered into several debt-for-equity agreements in recent weeks.This comes after the company completed its $350 million at-the-market offering last month.AMC stock is down ...</p>\n\n<a href=\"https://investorplace.com/2024/01/amc-looks-to-pay-down-debt-with-several-exchange-agreements/\">Source Link</a>\n\n</div>\n","source":"investorplace_stock_picks","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>AMC Looks to Pay Down Debt With Several Exchange Agreements</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAMC Looks to Pay Down Debt With Several Exchange Agreements\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-01-04 11:09 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://investorplace.com/2024/01/amc-looks-to-pay-down-debt-with-several-exchange-agreements/><strong>InvestorPlace</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>AMC Entertainment (AMC) has entered into several debt-for-equity agreements in recent weeks.This comes after the company completed its $350 million at-the-market offering last month.AMC stock is down ...</p>\n\n<a href=\"https://investorplace.com/2024/01/amc-looks-to-pay-down-debt-with-several-exchange-agreements/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"APE","symbol_name":"AMC Entertainment Preferred","start_time":0,"source_url":"https://investorplace.com/2024/01/amc-looks-to-pay-down-debt-with-several-exchange-agreements/","article_id":"1137673549","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1137673549","pubTimestamp":1704337758,"sourceInfo":{"source_id":"investorplace_stock_picks","name":"InvestorPlace stock picks"},"weMediaInfo":null,"summary":"AMC Entertainment (AMC) has entered into several debt-for-equity agreements in recent weeks.This comes after the company completed its $350 million at-the-market offering last month.AMC stock is down ","collect":0,"end_time":0,"defaultTopTitle":"investorplace.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"APE":"AMC Entertainment Preferred","AMC":"AMC院线"},"translate_title":"AMC希望通过几项交换协议偿还债务","themeId":"1c2c6c4d35d44c31970c95cd7e9e782e","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"AMC":1.1,"APE":1.1},"content_text":"AMC Entertainment (AMC) has entered into several debt-for-equity agreements in recent weeks.This comes after the company completed its $350 million at-the-market offering last month.AMC stock is down by more than 20% during the past month.AMC Entertainment (NYSE: AMC) stock has fallen by more than 20% during the past month. Part of this fall is attributable to general market weakness, while the other part is likely due to dilution.Yesterday, the movie theater chain released a Form 8-K documenting a debt for equity exchange. Between Dec. 28 and Dec. 29, AMC agreed to enter into a series of privately negotiated exchange agreements. These agreements will see AMC issue 3.25 million shares in exchange for $22.5 million of aggregate principal amount in its 2026 10%/12% Cash/payment-in-kind (PIK) toggle second lien subordinated notes. These shares carried an implied value of $6.94 apiece.In other words, AMC has agreed to buy back some of its debt by providing the debt holder with newly issued shares.“The Company may engage in similar transactions in the future but is under no obligation to do so,” said AMC.AMC Stock: AMC Swaps Debt for EquityHowever, this recent transaction is just one of many that AMC has enacted during the past few weeks. Between Dec. 21. and Dec. 22, the company entered into a similar agreement that would see it exchange debt for 3.79 million newly issued shares. Before that, the company issued 3.34 million shares in exchange for debt on Dec. 19. Between Dec. 12 and Dec. 14, AMC also issued 4.75 million shares, while a Form 8-K filed on Dec. 12 revealed that it had issued 1.56 million shares between Nov. 27 and Dec. 7.These debt-for-equity transactions come amid the company’s closing of its $350 million at-the-market (ATM) offering, which was announced on Dec. 11. The offering was completed through the sale of 48 million shares at an average per share price of $7.29. With a portion of the proceeds, AMC initiated debt repurchases and debt for equity transactions that resulted in a liabilities reduction of $62.28 million.The good news here is that AMC is reducing its debt, which tallied in at $4.82 billion during the last reported quarter. The bad news, of course, is that shareholders are getting diluted in the process.","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"symbols":[],"gpt_button":0},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":1,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.22.4","shortVersion":"4.22.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/1137673549"}