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Wajeeh Khan

The $200 Million Reason AMC Stock Is Down Today

AMC Entertainment (AMC) saw its worst single-day decline in nearly three years on June 23 after the cinema chain announced a $200 million registered direct offering of common stock.

The company entered into a definitive agreement to sell 95,250,000 Class A shares to institutional investors at $2.10 each, representing about a 24% discount to Monday’s closing price.

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