{"id":85462,"date":"2023-09-16T08:21:06","date_gmt":"2023-09-16T08:21:06","guid":{"rendered":"https:\/\/celebritytidings.com\/?p=85462"},"modified":"2023-09-16T08:21:06","modified_gmt":"2023-09-16T08:21:06","slug":"amc-entertainment-stock-pops-as-it-raises-fresh-cash-in-stock-sale-talk-of-financial-collapse-now-moot-says-ceo","status":"publish","type":"post","link":"https:\/\/celebritytidings.com\/tv-movies\/amc-entertainment-stock-pops-as-it-raises-fresh-cash-in-stock-sale-talk-of-financial-collapse-now-moot-says-ceo\/","title":{"rendered":"AMC Entertainment Stock Pops As It Raises Fresh Cash In Stock Sale; Talk Of Financial Collapse Now Moot, Says CEO"},"content":{"rendered":"<p>AMC Entertainment shares rallied as the company completed a previously disclosed equity offering, raising about $325.5 million of new capital.<\/p>\n<p>The company said it sold 40 million shares at an average price of approximately $8.14 per share.<\/p>\n<p>The move significantly boosts AMC&#8217;s cash reserves, addresses current liquidity concerns, and fortifies the balance sheet, AMC said. When coupled with the third quarter to-date 39% surge in industry from last year and massive presales of <em>Taylor Swift: The Eras Tour<\/em> coming in October, proceeds from offering will let AMC &ldquo;continue along its successful recovery glidepath through changing market dynamics, including the ongoing strikes by writers and actors, and capitalize on opportunities to further strengthen its balance sheet.&rdquo;<\/p>\n<h3>Related Stories<\/h3>\n<p><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/deadline.com\/wp-content\/uploads\/2023\/07\/GF-11507_MSG.jpg\"><span>Breaking News<\/span><\/p>\n<h3>Imax CEO Grills Goldman Sachs Analyst Over &#039;Sell&#039; Rating On Stock &#8211; &quot;What Do We Have To Do?&quot;<\/h3>\n<\/article>\n<p><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/deadline.com\/wp-content\/uploads\/2023\/08\/GettyImages-1477867657.jpg\"><span>Breaking News<\/span><\/p>\n<h3>AMC Entertainment Stock Plunges As Chain Files To Sell 40 Million Shares<\/h3>\n<\/article>\n<p>Shares are up 9% in pre-market trading.<\/p>\n<p>CEO Adam Aron said the capital raise &ldquo;has bolstered our ability to survive and then thrive. As we navigate the recovery phase of our industry, this infusion of capital provides us with flexibility to assist us in navigating the waters ahead and continue delivering the magic of movies to our guests.&rdquo;<\/p>\n<p>Shares are up 9% in pre-market trading. <\/p>\n<p>In a post on X, formerly Twitter, Aron was blunt, saying, &#8220;This material increase to our cash position means that any talk of immediate and imminent financial collapse right now by AMC is moot.<\/p>\n<h2>Must Read Stories<\/h2>\n<h3>ABC Cancels &#8216;Wonder Years&#8217; Revival; No Word On &#8216;The Rookie: Feds&#8217; Or &#8216;Home Economics&#8217; Fate<\/h3>\n<p><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/deadline.com\/wp-content\/uploads\/2023\/08\/The-Wonder-Years.jpg\"><\/p>\n<h3>A24 Lands U.S. Rights On Toronto Buzz Title &#8216;Sing Sing&#8217; Starring Colman Domingo<\/h3>\n<p><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/deadline.com\/wp-content\/uploads\/2023\/09\/singsing_01.jpeg\"><\/p>\n<h3>WGA &#038; CBS Weigh In On &#8216;Drew Barrymore Show&#8217; Return; Host Offers Tearful Apology<\/h3>\n<p><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/deadline.com\/wp-content\/uploads\/2023\/09\/SAG-Strike-Drew.jpg\"><\/p>\n<h3>With Poirot Back On The Case, &#8216;Haunting In Venice&#8217; Rowing To $14M Domestic Bow<\/h3>\n<p><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/deadline.com\/wp-content\/uploads\/2023\/07\/Screen-Shot-2023-07-19-at-9.36.11-AM.jpg\"><\/p>\n<h2>Read More About:<\/h2>\n<p>Source: <a href=\"https:\/\/deadline.com\/2023\/09\/amc-entertainment-stock-sale-fresh-cash-adam-aron-1235546726\/\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>AMC Entertainment shares rallied as the company completed a previously disclosed equity offering, raising about $325.5 million of new capital. The company said it sold 40 million shares at an average price of approximately $8.14 per share. The move significantly boosts AMC&#8217;s cash reserves, addresses current liquidity concerns, and fortifies the balance sheet, AMC said. When coupled with the third<\/p>\n","protected":false},"author":2,"featured_media":85461,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.8 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>AMC Entertainment Stock Pops As It Raises Fresh Cash In Stock Sale; Talk Of Financial Collapse Now Moot, Says CEO - Celebrity Tidings<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/celebritytidings.com\/tv-movies\/amc-entertainment-stock-pops-as-it-raises-fresh-cash-in-stock-sale-talk-of-financial-collapse-now-moot-says-ceo\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"AMC Entertainment Stock Pops As It Raises Fresh Cash In Stock Sale; Talk Of Financial Collapse Now Moot, Says CEO - Celebrity Tidings\" \/>\n<meta property=\"og:description\" content=\"AMC Entertainment shares rallied as the company completed a previously disclosed equity offering, raising about $325.5 million of new capital. 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