AMC shares fall 6.35% to $1.77 after $200 million registered direct offering adds 95,250,000 shares
AMC Entertainment shares fell 6.35% to $1.77 on Monday after the company completed a $200 million registered direct offering that issued 95,250,000 common shares. The company said the proceeds will be used primarily to redeem $125,471,000 of its 6.125% Senior Subordinated Notes due 2027, leaving it with no anticipated material debt principal repayments until calendar year 2029. Technically, the stock has dropped below its 20-day, 50-day and 200-day moving averages and is only slightly above its 100-day level, keeping near-term pressure elevated.
