AMC - AMC Entertainment: Examining Its Path To Long-Term Survival
2024-06-14 13:56:45 ET
Summary
- AMC Entertainment Holdings, Inc. reduced its net debt by over $400 million through its ATM equity offering and debt-for-equity swaps.
- I believe AMC Entertainment Holdings needs another $1.8 billion in debt reduction transactions to be in a sustainable position, though.
- If the AMC Entertainment share price stays near current levels, it may be able to achieve this with 670 million to 740 million outstanding shares.
- It is currently authorized to have up to 550 million shares, so it would need approval for more.
AMC Entertainment Holdings, Inc. ( AMC ) recently completed its $250 million at-the-market equity offering and also did a debt-for-equity swap to remove $163.85 million in debt. These are positive moves for the company that have reduced its net debt by over $400 million....
AMC Entertainment: Examining Its Path To Long-Term Survival