Summary by Futu AI
On May 14, 2024, AMC Entertainment Holdings, Inc. announced the completion of privately negotiated exchange agreements. Under these agreements, the company issued 23,280,295 shares of its Class A common stock in exchange for $163,850,000 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 $7.33 per share, based on the principal amount exchanged and the accrued interest. The exchange was made with existing security holders under Section 3(a)(9) of the Securities Act of 1933, ensuring that no commission or remuneration was paid for soliciting the exchange. AMC Entertainment may consider similar transactions in the future but has no current obligation to do so.