AMC Entertainment adjusts conversion price of 2.95% notes due 2026

By Sarah Lizee

Olympia, Wash., Sept. 15 – AMC Entertainment Holdings, Inc. said the conversion price for its $600 million 2.95% convertible senior secured notes due 2026 was adjusted to $13.51 effective as of Monday, according to an 8-K filing with the Securities and Exchange Commission.

The volume-weighted average price of the company’s class A common stock for the 10 consecutive trading days ending on Sept. 14 was $6.55 and, as a result, the conversion price reset provision was triggered.

The new conversion price represents the conversion price that would result in 30% of the company’s then outstanding fully-diluted share capital being issued upon conversion in full of the convertible first-lien notes.

Holders may elect to convert their notes at any time until Sept. 15, 2024.

AMC is a movie exhibition company based in Leawood, Kan.

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