AMC Entertainment shares are trading lower after the company entered an equity distribution agreement to sell shares from time to time with an aggregate offering price of $250,000,000 through an 'at-the-market' program.
Portfolio Pulse from Benzinga Newsdesk
AMC Entertainment has initiated an equity distribution agreement to periodically sell shares totaling $250,000,000 through an 'at-the-market' program, leading to a decrease in its share price.
March 28, 2024 | 12:52 pm
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AMC Entertainment's decision to sell shares worth $250,000,000 through an 'at-the-market' program has led to a decrease in its share price.
The announcement of AMC Entertainment's equity distribution agreement to sell shares worth $250,000,000 is likely to dilute the value of existing shares, leading to a decrease in share price. This is a common market reaction to such announcements as investors anticipate a dilution in earnings per share and overall equity value.
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