AMC Announces $153M Debt Reduction 8-K Sep 30, 2024

2 months ago
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AMC Announces $153M Debt Reduction 8-K Sep 30, 2024 - On September 30,2024 AMC Entertainment (NYSE:AMC) announced that Between August 5, 2024 and September 30, 2024, the Company entered into a series of privately negotiated agreements to extinguish unsecured debt in an aggregate principal amount of $152,923,002, consisting of $15,602,000 principal amount of 5.75% subordinated notes due 2025, $9,572,000 principal amount of 5.875% subordinated debt due 2026, and $127,749,002 principal amount of 10%/12% cash/PIK toggle subordinated notes due 2026, which the Company repurchased and/or exchanged for aggregate consideration of 11,091,833 shares of the Company’s Class A common stock, par value $0.01 per share, and $103,123,472 of cash, excluding accrued interest. The Company may engage in similar transactions in the future but is under no obligation to do so. #TonyDenaro #AMC #Debt8K

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