AMC Entertainment Files To Sell Stock For Cash As Exhibition Struggles
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deadline.comJill Goldsmith Co-Business EditorAMC Entertainment has filed to sell 15 million shares of common stock to raise fresh cash, the second exhibition distress call today after Regal parent Cineworld of the U.K.
posted a brutal results for first six months of the year.Regal is the largest circuit in the U.S., AMC the second. Exhibitors shut down in March and have opened slowly across many states but are still dark in key markets New York and Los Angeles and lack high-profile product to lure audiences used to sheltering in place.AMC announced a large and complex debt restructuring over the summer that raised cash from note sales, cut interest expenses and pushed out maturities.
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