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AMC Entertainment Holdings Inc AMC shares are trading lower. AMC subsidiary Odeon Finco announced an offering on Wednesday.
Odeon Finco is a wholly-owned direct subsidiary of Odeon Cinemas Group and an indirect subsidiary of AMC Entertainment. The company has commenced a private offering of $400 million aggregate principal amount of senior secured notes due 2027.
Odeon Finco intends to use the proceeds to fund the repayment in full of Odeon Cinemas Group’s existing term loan facilities, and to pay related fees, costs, premiums and expenses.
AMC Entertainment is trending across social media platforms. It was the top trending ticker on Stocktwits at the time of writing. It was also among the most mentioned stocks on Reddit’s r/wallstreetbets over the last 24 hours.
See Also: Jim Chanos Is Long AMC Entertainment Stock, Short APE: Why He Expects The Spread To ‘Collapse’
AMC Price Action: AMC has a 52-week high of $34.33 and a 52-week low of $6.07.
The stock was down 5.39% at $5.79 at time of publication, according to Benzinga Pro.
Photo: Paul Sableman from Pixabay.
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Image and article originally from www.benzinga.com. Read the original article here.