AMC Entertainment Holdings, Inc. Raises 230.5 Million of New Equity From Mudrick Capital | Business Wire

October 14, 2022

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leawood, kan.-(business wire)-amc entertainment holdings, inc. (NYSE: AMC) (“AMC” or “the Company”), today announced that it has reached an agreement to raise $230.5 million in cash from the sale of stock to Mudrick Capital Management, L.P. in exchange for 8.5 million Class A common shares of AMC. capital rose at a price of approximately $27.12 per share. Cash proceeds from this stock sale will be used primarily to pursue value-creating acquisitions in additional theater leases, as well as investments to enhance the consumer appeal of AMC’s existing theaters. Furthermore, with these funds in hand, AMC intends to continue exploring deleveraging opportunities.

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Commenting on the transaction, AMC CEO and President Adam Aron said: “Given our scale, experience and commitment to innovation and excellence, AMC is presented with very attractive theater acquisition opportunities. We are in talks, for example, with a number of great theater owners who previously operated Arclight Cinemas and Pacific Theatres. With this agreement with Mudrick Capital, we have raised funds that will allow us to be aggressive in pursuing the most valuable theater assets, as well as make other strategic investments in our business and pursue deleveraging opportunities.”

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aron added, “since amc is raising hundreds of millions of dollars, this is an extremely positive result for our shareholders. was achieved through the issuance of just 8.5 million shares, representing less than 1.7% of our issued share capital and only a small portion of our typical daily trading volume. This transaction underscores the real value of having some authorized share capital available so that we can opportunistically capitalize on shareholder value creation possibilities as they arise.”

Aron concluded, “With our increased liquidity, an increasingly vaccinated population, and the impending release of new blockbuster movie titles, it’s time for amc to go back on the offensive.”

about amc entertainment holdings, inc.

AMC is the largest motion picture exhibition company in the United States, the largest in Europe, and the largest in the world with approximately 950 theaters and 10,500 screens worldwide. amc has driven innovation in the exhibition industry by: implementing its signature power reclining seats; offer enhanced food and beverage options; generate greater guest engagement through its loyalty and subscription programs, website and mobile applications; offering premium large-format experiences; and play a wide variety of content, including the latest Hollywood releases and independent programming. For more information, visit www.amctheatres.com.

website information

This press release, along with other amc news, is available at www.amctheatres.com. We routinely post information that may be important to investors on the investor relations section of our website, www.investor.amctheatres.com. We use this website as a means of disclosing material, non-public information and to comply with our disclosure obligations under Regulation FD, and we encourage investors to refer to that section of our website regularly for important information about AMC. information contained on, or accessible through, our website is not incorporated by reference into, and is not a part of, this document. Investors interested in receiving news and information automatically when it is posted on our website can also visit www.investor.amctheatres.com to sign up for email alerts.

additional information and where to find it

This Communication may be considered solicitation material with respect to the Annual Meeting of Stockholders (the “Annual Meeting”) of AMC Entertainment Holdings, Inc. (“amc” or the “company”). this communication does not constitute a request for any vote or approval. in connection with the annual meeting, the company plans to file with the securities and exchange commission (the “sec”) and mail or provide to its shareholders a proxy statement regarding the business to be conducted at the meeting annual. The company may also file other documents with the SEC regarding the business to be conducted at the annual meeting. this document is not a substitute for the proxy statement or any other document that may be filed by the company with sec.

Before making any voting decision, the company’s shareholders are urged to read the proxy statement in its entirety when it becomes available and any other document filed by the company with the SEC in relation to the business that will be carried out. held at the previous annual meeting. make any voting or investment decisions regarding the business to be transacted at the annual meeting because they contain important information about the business to be transacted at the annual meeting.

Stockholders can obtain a free copy of the proxy statement and other documents the company files with the SEC (if available) through the website maintained by the SEC at www.sec.gov. the company makes available free of charge on its investor relations website at www.investor.amctheatres.com copies of the materials it files with or provides to sec.

participants in the application

The Company and its directors, executive officers and certain employees and other persons may be deemed participants in the solicitation of proxies from the Company’s shareholders in connection with the business to be conducted at the annual meeting. Security holders can obtain information about the names, affiliations and interests of the directors and executive officers of the company in the company’s annual report on form 10-k for the fiscal year ended December 31, 2020, which is filed with the SEC on March 12, 2021 (the “2021 10-k form”). To the extent that the Company’s directors and executive officers’ holdings of Company securities have changed from the amounts set forth on the Company’s 2021 Form 10-k, such changes have been or will be reflected in declarations of change of ownership in form 4 filed with the sec.

forward-looking statements

This communication includes “forward-looking statements” within the meaning of the federal securities laws. In many cases, these forward-looking statements can be identified by the use of words such as “will”, “may”, “could”, “would”, “should”, “believes”, “expects”, “anticipates”, “estimates”. ”, “intends”, “indicates”, “projects”, “goals”, “targets”, “targets”, “predicts”, “plans”, “seeks” and variations of these words and similar expressions. Examples of forward-looking statements include statements we make regarding the issue, potential acquisitions and deleveraging opportunities, impact of COVID-19, future support levels, and our liquidity. any forward-looking statement speaks only as of the date it is made. These forward-looking statements may include, among other things, statements regarding AMC’s current expectations regarding the performance of its business, financial results, liquidity and capital resources, and the impact on its business and financial condition, and the measures that are being taken in response. to the covid-19 virus, and are based on information available at the time the statements are made and/or management’s good faith belief at the time regarding future events, and are subject to risks, trends , uncertainties and other facts that could cause actual results or performance to differ materially from those expressed or suggested by forward-looking statements. 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 is insufficient to generate the significant amounts of additional liquidity that will be required unless Being able to achieve more normalized levels of operating income would likely result in AMC seeking an in-court or out-of-court restructuring of its liabilities; the potential impact of AMC’s existing or potential lease breaches; 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 the suspension of operations in theaters, reductions in personnel and other measures and measures of cost reductions to maintain the necessary liquidity and the increases of expenses related to the precautionary measures in the facilities of amc to protect the health and the well-being of the clients and employees of amc; AMC’s significant indebtedness, including its borrowing capacity and its ability to meet its financial maintenance and other covenants; the form, timing and amount of the benefit AMC receives under the Cares Act or other applicable government benefits and supports; the impact of impairment losses; production and execution of motion pictures; AMC’s lack of control over movie distributors; intense competition in the geographic areas in which amc operates; increased use of alternative delivery methods for movies or other forms of entertainment; reduction of the exclusive theatrical release window; amc stubs a-list fails to meet anticipated revenue projections; general and international economic, political, regulatory and other risks; limitations on the availability of capital; AMC’s ability to refinance its debt on favorable terms; availability of financing on favorable terms or at all; risks related to impairment losses, including with respect to goodwill and other intangibles, theater and other closing charges; and other factors analyzed in the reports that amc has presented before the sec. Should one or more of these risks, trends, uncertainties or events materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated or anticipated by the forward-looking statements contained in this document. accordingly, you are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date they are made. Forward-looking statements should not be read as a guarantee of future performance or results and will not necessarily be precise indications of when such performance or results will be achieved. For a detailed discussion of the risks, trends, and uncertainties facing AMC, see the section titled “Risk Factors” in the company’s 2021 Form 10-K filed with the SEC, and the risks, trends, and uncertainties identified in its other public presentations. amc does not intend, and undertakes no obligation, to update the information contained in this document to reflect future events or circumstances, except as required by applicable law.

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