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AMC Entertainment says the risk of bankruptcy is now off the table

AMC Entertainment Raises $917 Million, Avoiding Bankruptcy

AMC Entertainment Raises $917 Million, Avoiding Bankruptcy Posted on 3318 AMC Entertainment Holdings Inc (NYSE: AMC) revealed in an SEC filing it is no longer in danger of bankruptcy after securing USD917 Million in financing. The funds assure that the company can remain open and functional throughout 2021.   “This means that any talk of an imminent bankruptcy for AMC is completely off the table,” said CEO Adam Aron. The cinema’s shares skyrocketed about 50% during premarket trading and remained up 35% to USD4.75 by 8:40 a.m.  Approximately USD500 Million of the raised capital was secured from the issuance of new common shares as well as an investment deal with Mudrick Capital Management. Furthermore, the movie theater chain has carried out commitment letters for USD411 Million of additional funds from upsizing and refinancing its European revolving credit facility.

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