AMC Entertainment Holdings, Inc. (NYSE: AMC) announced the closing of its previously announced registered direct offering of 95.25 million shares of common stock, generating approximately $200 million in gross proceeds before fees and expenses. The company stated that it intends to use the proceeds primarily to redeem all $125.47 million of its 6.125% Senior Subordinated Notes due 2027, eliminating any anticipated material debt principal repayments before 2029.
The remaining proceeds will support general corporate purposes, strengthen cash reserves, and fund targeted investments in seating upgrades and premium screens at selected higher-grossing theaters. The debt repayment is expected to reduce annual cash interest expense by approximately $7.7 million while enhancing the company's financial position and supporting growth-oriented capital investments.
AMC is the largest movie exhibition company in the United States, Europe, and the world, with approximately 850 theaters and 9,600 screens globally. The company has driven innovation in the exhibition industry by deploying Signature power-recliner seats, delivering enhanced food and beverage choices, and offering premium large format experiences. More information is available at www.amctheatres.com.
The full press release can be viewed at https://ibn.fm/ruN1n.
