2024-06-18 07:15:36 ET
Summary
- AMC Networks shares dropped over 30% due to a convertible note issuance, which will dilute existing shareholders if converted to shares.
- The convertible bond issuance did not impact the company's financial performance, with positive free cash flow and debt reduction.
- Risks include increased interest expenses from new notes and potential disruptions like the actors and writers strike.
Introduction
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AMC Networks: Dilutive Convertible Debt Issuance Creates Income Opportunities