Meme stock AMC down after deal with Goldman to sell up to 50 mln shares
Source Investing
Investing.com -- AMC Entertainment Holdings Inc (NYSE:AMC) shares slumped 10% at $4.7 on Friday after movie theatre chain entered an agreement with Goldman Sachs Group (NYSE:GS) to sell 50 million shares of Class A common stock.
The agreement will allow AMC to issue and sell shares through Goldman Sachs, which will act as a sales agent or principal buyer.
AMC said it plans to use proceeds from the stock sale to strengthen its balance sheet with increased liquidity, and lowering its debt.
The company also intends to invest in its "AMC GO Plan," which focuses on improving the movie-going experience with upgrades to seating, sound systems, and premium large format screens
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
Gold edges higher to near $4,700 as Trump-Xi summit loomsGold price (XAU/USD) trades in positive territory near $4,700 during the early Asian session on Thursday. The precious metal edges higher as markets turn cautious ahead of the US President Donald Trump-Chinese President Xi Jinping summit in Beijing.
Gold price (XAU/USD) trades in positive territory near $4,700 during the early Asian session on Thursday. The precious metal edges higher as markets turn cautious ahead of the US President Donald Trump-Chinese President Xi Jinping summit in Beijing.
Inflation 'High Fever' Fails to Stop Rally? BTC Temporarily Loses 80,000 Mark, But Arthur Hayes Sees Peak of $126,000CPI data exceeding expectations triggered Bitcoin's drop below $80,000, yet the BitMEX co-founder remains firmly bullish on BTC.On May 13, Bitcoin ( BTC) prices experienced a correction f
CPI data exceeding expectations triggered Bitcoin's drop below $80,000, yet the BitMEX co-founder remains firmly bullish on BTC.On May 13, Bitcoin ( BTC) prices experienced a correction f
US President Donald Trump says trade will be priority in summit with Xi, not IranUS President Donald Trump said that he would prioritize trade discussions during his summit with Chinese President Xi Jinping and downplayed the amount of attention they would devote to the Iran war, Bloomberg reported on Tuesday.
US President Donald Trump said that he would prioritize trade discussions during his summit with Chinese President Xi Jinping and downplayed the amount of attention they would devote to the Iran war, Bloomberg reported on Tuesday.
AI Boom Lifts US Stocks, Strategist Sees S&P Breaking 10,000 in Three Years, How Much Longer Can This Rally Last? U.S. stocks closed at record highs again on Monday; despite growing concerns that a prolonged conflict in Iran through the summer could trigger severe economic consequences, the rally rem
U.S. stocks closed at record highs again on Monday; despite growing concerns that a prolonged conflict in Iran through the summer could trigger severe economic consequences, the rally rem
Gold drifts higher to near $4,750 ahead of US CPI inflation releaseGold price (XAU/USD) trades in positive territory around $4,750 during the early Asian session on Tuesday. The precious metal edges higher as traders assess developments in the United States (US)-Iran diplomacy and await key US inflation data, which is due later on Tuesday.
Gold price (XAU/USD) trades in positive territory around $4,750 during the early Asian session on Tuesday. The precious metal edges higher as traders assess developments in the United States (US)-Iran diplomacy and await key US inflation data, which is due later on Tuesday.
