AMC Issues $500M In Debt To Stay Liquid; Shares Spike On U.S. Reopening Plan

deadline.com:

By Dade Hayes Finance Editor AMC Entertainment shares roared to life in after-hours trading, rising as much as 37% after the company announced a $500 million debt sale and the White House announced sweeping measures to reopen U.S.

businesses. The No. 1 theater circuit has fallen on extremely tough times, shutting doors to its theaters weeks ago as the COVID-19 crisis has ripped across the world.

President Donald Trump on Thursday evening confirmed that movie theaters would be part of the initial phase of his proposal to reopen major parts of the economy.

Beaten-down shares in AMC, which closed the regular trading day at $2.44, shot up to $3.35 after hours. CEO Adam Aron has expressed hope that theaters in the U.S.