AMC Stock Alert: Adam Aron Discloses $162 Million of Cash Raised

InvestorPlace2022-12-20

AMC Entertainment(NYSE:AMC) stock is down nearly 8% today. CEO Adam Aron announced that the company had raised $162 million from the sale of 125.9 million AMC Preferred Equity Units(NYSE:APE). In a ...

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Elysium19
2022-12-20
Elysium19
Goods article
FreePrincess
2022-12-20
FreePrincess
Pls like

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CEO Adam Aron announced that the company had raised $162 million from the sale of 125.9 million AMC Preferred Equity Units(NYSE:APE). In a ...</p>\n\n<a href=\"https://investorplace.com/2022/12/amc-stock-alert-adam-aron-discloses-162-million-of-cash-raised/\">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/2022/12/amc-stock-alert-adam-aron-discloses-162-million-of-cash-raised/","article_id":"1146927965","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1146927965","pubTimestamp":1671495652,"columns":[],"sourceInfo":{"source_id":"investorplace","name":"InvestorPlace"},"weMediaInfo":null,"summary":"AMC Entertainment(NYSE:AMC) stock is down nearly 8% today. CEO Adam Aron announced that the company ","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股票警报：亚当·阿伦披露筹集了1.62亿美元现金","themeId":"","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"AMC":0.9,"APE":0.9},"content_text":"AMC Entertainment(NYSE:AMC) stock is down nearly 8% today. CEO Adam Aron announced that the company had raised $162 million from the sale of 125.9 million AMC Preferred Equity Units(NYSE:APE). In a tweet, the CEO noted the following:“Some Wall Streeters play such shameful games with AMC. Leak to the press AMC liquidity fear. Their FUD spreading is not illegal, but is evil & irresponsible. Challenges ahead still, but we announced today that having APEs let us raise $162 MILLION OF NEW CASH in the past 90 days!”APE began trading on the New York Stock Exchange in late August. Shareholders were eligible to receive one share of APE for each share of AMC stock held. At the time, the company stated that the special dividend would “be similar to a 2/1 stock split.”On top of this news, the movie theater chain released a press release this morning with several financial updates. Let’s get into the details.AMC Stock: APE Units Have Raised $162 MillionDuring the current quarter, AMC has repurchased $36 million of debt at average discounts ranging between 60% and 70% using proceeds from the APE at-the-market (ATM) offerings. As a result of the repurchases and debt refinancing, the company has reduced the principal amount of its debt by about $107 million. Year-to-date (YTD), AMC has now reduced the principal amount of its debt by $180 million.Furthermore, AMC estimates that its cash, cash equivalents and undrawn revolving credit facility capacity will be between $725 million and $825 million by the end of the year. This estimate includes $211.2 million of revolving credit that has not yet been used.On top of this news, the company also announced that it would acquire Arclight Cinemas’ 13-screen theater in Boston, Massachusetts. The theater opened its doors in December 2019 and was shut down just three months later due to the pandemic.Finally, in AMC’s press release, Aron concluded that he is optimistic about the upcoming year:“Our outlook for the industry is positive as we expect the box office will be larger in 2023 than in 2022. Our liquidity position is strong, as we continue to demonstrate our ability to raise cash, thereby strengthening our balance sheet.”","kind":"news","is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":9926653829,"gmtCreate":1671546777862,"gmtModify":1676538553233,"author":{"id":"3574948695055795","authorId":"3574948695055795","name":"Elysium19","avatar":"https://community-static.tradeup.com/news/f52fc418c6d2a471cb76dff722fc04d5","vip":1,"crmLevel":3,"crmLevelSwitch":0,"idStr":"3574948695055795","authorIdStr":"3574948695055795"},"htmlText":"Goods article&nbsp;","listText":"Goods article&nbsp;","text":"Goods article","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9926653829","repostId":1146927965,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9926127217,"gmtCreate":1671496194340,"gmtModify":1676538545304,"author":{"id":"3582347714998199","authorId":"3582347714998199","name":"FreePrincess","avatar":"https://static.tigerbbs.com/e5875e48241b7c20bf1855e00a4224eb","vip":1,"crmLevel":6,"crmLevelSwitch":0,"idStr":"3582347714998199","authorIdStr":"3582347714998199"},"htmlText":"Pls like&nbsp;","listText":"Pls like&nbsp;","text":"Pls like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9926127217","repostId":1146927965,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":70,"commentSize":2,"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":"4.29.3","shortVersion":"4.29.3","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/1146927965"}