Securities and Exchange Commission to permit the issuance and sale of up to 43 million shares of the Company’s Class A Common Stock from time to time through an “at-the-market” equity offering program.
Adam Aron, CEO and President of AMC said, “We have previously pointed out that the sale of up to 43 million AMC shares, the currently available amount for possible issuance under a previous shareholder authorization, should more than satisfy AMC’s liquidity needs for 2021.
Aron continued, “We believe our shareholders will appreciate and benefit from our bolstering AMC’s cash reserves with the potential sale of up to 43 million shares as detailed in an S-3 filing today.
at the AMC Theatre Support Center, One AMC Way, 11500 Ash Street, Leawood, Kansas 66211 at which time AMC will process the vote on the balance of Company’s proposals.
In connection with the Annual Meeting, the Company has filed with the SEC and has mailed or otherwise provided to its stockholders a proxy statement regarding the business to be conducted at the Annual Meeting.
Stockholders may obtain a free copy of the proxy statement and other documents the Company files with the SEC through the website maintained by the SEC at www.sec.gov.
To the extent the holdings of the Company’s securities by the Company’s directors and executive officers have changed since the amounts set forth in the Company’s 2021 Form 10-K, such changes have been or will be reflected on Statements of Change in Ownership on Form 4 filed with the SEC.
These risks, trends, uncertainties and facts include, but are not limited to, risks related to: AMC’s ability to obtain additional liquidity, which if not realized or insufficient to generate the material amounts of additional liquidity that will be required unless it is able to achieve more normalized levels of operating revenues, likely would result in AMC seeking an in-court or out-of-court restructuring of its liabilities;; the impact of the COVID-19 virus on AMC, the motion picture exhibition industry, and the economy in general, including AMC’s response to the COVID-19 virus related to suspension of operations at theatres, personnel reductions and other cost-cutting measures and measures to maintain necessary liquidity and increases in expenses relating to precautionary measures at AMC’s facilities to protect the health and well-being of AMC’s customers and employees; AMC’s significant indebtedness, including its borrowing capacity and its ability to meet its financial maintenance and other covenants; the manner, timing and amount of benefit AMC receives under the CARES Act or other applicable governmental benefits and support; the impact of impairment losses; motion picture production and performance; AMC’s lack of control over distributors of films; intense competition in the geographic areas in which AMC operates; increased use of alternative film delivery methods or other forms of entertainment; shrinking exclusive theatrical release window; AMC Stubs A-List not meeting anticipated revenue projections; general and international economic, political, regulatory and other risks; limitations on the availability of capital; AMC’s ability to refinance its indebtedness on favorable terms; availability of financing upon favorable terms or at all; risks relating to impairment losses, including with respect to goodwill and other intangibles, and theatre and other closure charges; and other factors discussed in the reports AMC has filed with the SEC.
AMC has propelled innovation in the exhibition industry by: deploying its Signature power-recliner seats; delivering enhanced food and beverage choices; generating greater guest engagement through its loyalty and subscription programs, web site and mobile apps; offering premium large format experiences and playing a wide variety of content including the latest Hollywood releases and independent programming.
We use this website as a means of disclosing material, non-public information and for complying with our disclosure obligations under Regulation FD, and we encourage investors to consult that section of our website regularly for important information about AMC.
AMC Entertainment Holdings Inc.
AMC Entertainment offered a preview of its quarterly earnings Tuesday, anticipating revenue for the three months ended in March of $148 million, way down from $941.5 million the year before as the box office struggled to revive amid the global pandemic.
China’s Huawei Technologies saw revenue fall 16.5% in the first quarter compared to a year earlier, hurt by a dip in sales after selling its budget smartphone unit Honor in November.
SK Hynix, the world’s No.2 memory chip maker, said on Wednesday it will bring forward planned capital spending but warned supply increases from the investment will come only next year, pointing to a prolonged global semiconductor shortage.
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judge on Monday found that Huawei did not violate a court order by sharing certain information with its chief financial officer, who is using it to help fight her extradition from Canada.
and Wells Fargo all managed to limit or avoid damage, Morgan Stanley was criticized by some investors and analysts for revealing a $911 million loss only during its earnings this month.UBS fell as much as 4% in Zurich trading, leading European bank stocks lower, as investors digested the Archegos impact, which the bank had considered not material enough to disclose earlier.The “Archegos losses have taken the shine of these results,” JPMorgan analysts Kian Abouhossein and Amit Ranjan wrote in a note.The turmoil at cross-town rival Credit Suisse had afforded Hamers a period of relative calm, even as the bank fights a $4.5 billion penalty in France and the new CEO himself saw his short tenure complicated by a Dutch probe into his role in a money-laundering case at his former employer ING Groep NV.UBS booked a $774 million hit from Archegos in the first quarter, driving down revenue from equities trading by 20%.
— Bank of Canada Governor Tiff Macklem said he remains committed to the central bank’s 2% inflation target, even as price pressures are expected to temporarily overshoot that goal.Macklem, in parliamentary testimony on Tuesday, cited the central bank’s long history of hitting that objective, and said he needs to worry about both upside and downside risks to its inflation outlook.The comments come after the Bank of Canada released new forecasts on April 21 that show the biggest persistent overshoot of its 2% target in at least two decades.“What can we do to assure Canadians that we will control inflation? We have a very clear mandate — we have a strong record now of 30 years of inflation targeting and we have consistently realized that objective,” Macklem told the House of Commons finance committee.At the same time, a full recovery will take time time to complete, and that will keep downward pressure on price gains, he said.Last week, Macklem justified his tolerance for above-target inflation by citing the central bank’s decision not to preemptively raise rates until the economy’s recovery from Covid-19 is complete.