AMC Stock Tumbles Toward Latest Offering Price

Dow Jones
Jun 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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