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AMC to offer 50 million shares, stock falls pre-market

by December 6, 2024
written by December 6, 2024

AMC Entertainment (NYSE:AMC) Holdings Inc. experienced a 7.5% drop in pre-open trading on Friday after the company announced its intention to offer 50 million shares. The company, known for its chain of movie theaters, disclosed an agreement with Goldman Sachs & Co (NYSE:GS). LLC, which will serve in dual roles. Goldman Sachs will act as a sales agent and also as a forward seller in connection with the hedging transactions.

The sales and registration agreement between AMC and Goldman Sachs & Co. LLC, along with Goldman Sachs International as the forward counterparty, was established on December 6, 2024. It pertains to the company’s Class A common stock, with a par value of $0.01 per share, which may be issued and sold from time to time at the company’s discretion.

The agreement allows AMC to utilize Goldman Sachs as a sales agent to issue and sell shares according to the prospectus supplement, which is part of the sales and registration agreement. Goldman Sachs may either sell the stock on behalf of AMC or buy shares directly for its own account.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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