AMC Entertainment shares are trading lower on continued downward momentum after the company last week announced it 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's shares are experiencing a decline due to the ongoing negative momentum following the announcement of an equity distribution agreement. The company plans to sell shares periodically through an 'at-the-market' program, aiming for an aggregate offering price of $250,000,000.
April 01, 2024 | 5:33 pm
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AMC Entertainment's stock is trading lower due to the negative impact of its recent announcement of an 'at-the-market' equity distribution agreement for $250,000,000.
The announcement of AMC Entertainment's equity distribution agreement for $250,000,000 through an 'at-the-market' program has led to a negative market reaction. This type of agreement often leads to concerns about dilution of existing shares, which can depress the stock price. Given the size of the offering and the current market conditions, this move has likely contributed to the continued downward momentum of AMC's stock.
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