AMC Entertainment completes 40M share at-the-market offering, raises $325M

AMC Entertainment “announced that it has completed its previously disclosed at-the-market equity offering launched on September 6, 2023. AMC raised approximately $325.5 million of new equity capital through the sale of 40 million shares, before commissions and fees, at an average price of approximately $8.14 per share. The completion of this ATM equity offering significantly boosts AMC’s cash reserves, addresses current liquidity concerns, and fortifies the balance sheet. When coupled with the third quarter to-date 39% surge in industry box office compared to the same period last year and the record-breaking success of the highly anticipated TAYLOR SWIFT THE ERAS TOUR concert film, the proceeds from the ATM equity offering allow AMC to continue along its successful recovery glidepath through changing market dynamics, including the ongoing strikes by writers and actors, and capitalize on opportunities to further strengthen its balance sheet.”