BUZZ-AMC drops on plan to sell 50 mln shares through Goldman Sachs

Reuters12-06

** Shares of AMC Entertainment down 9% to $4.73 premarket as theater chain plans to raise equity ** Co files up to 50 mln share ATM (at-the-market) agreement with Goldman Sachs as sales agent

** Under the agreement, co may also enter into forward transactions to sell shares to Goldman

** Co says intends to use net proceeds from any sales to bolster liquidity, reduce or refinance debt, reinvest in core business

** It has ~381.5 mln shares outstanding as of Dec 5, per the filing ** AMC shares on Thurs jumped ~6% to close at $5.20 after cryptic post from Keith Gill, known as '"Roaring Kitty", rekindled retail investor hype on meme stocks, including video game retailer GameStop and Unity Software

** Through Thurs, AMC shares down 15% YTD

(Lance Tupper is a Reuters market analyst. The views expressed are his own) ((lance.tupper@tr.com 1-646-279-6380))

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Comments

  • 3nn
    12-09
    3nn
    lol another lame move fortunately dumped this counter long ago
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