AMC Stock Tumbles Toward Latest Offering Price

Dow Jones
06/23

By Dean Seal

 

Shares of AMC Entertainment Holdings sank after the company said its latest offering to institutional investors was priced below Monday's closing price.

The stock fell 18% to $2.26 in premarket trading. Shares had been having a strong year, rising 77% between Jan. 1 and Monday's closing bell.

The movie theater chain said Tuesday morning that it has entered into a securities purchase agreement with certain institutional investors to sell more than 95 million shares at $2.10 apiece.

The direct offering is expected to close Wednesday. AMC used Roth Capital Partners as a placement agent in the offering and will pay the investment bank a cash fee of 5.5% of the offering's aggregate gross proceeds.

Net proceeds are expected to be about $189 million, which will be used to pay off $125.5 million in debt, among other things, AMC said.

 

Write to Dean Seal at dean.seal@wsj.com

 

(END) Dow Jones Newswires

June 23, 2026 08:07 ET (12:07 GMT)

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