Summary by Moomoo AI
AMC Entertainment Holdings, Inc. reported on January 2, 2024, that between December 28 and December 29, 2023, it had entered into a series of privately negotiated exchange agreements. During this period, the company issued a total of 3,258,657 shares of its Class A common stock in exchange for $22,500,000 aggregate principal amount of its 10%/12% Cash/PIK Toggle Second Lien Subordinated Notes due 2026. The shares were issued at an implied value of $6.94 per share, based on the principal amount exchanged and accrued interest. The transactions were conducted under Section 3(a)(9) of the Securities Act of 1933, meaning they were exchanged with existing security holders without any commission or remuneration for soliciting the exchange. AMC Entertainment has indicated the possibility of engaging in similar transactions in the future but has no obligation to do so.