{"id":144522,"date":"2020-12-31T02:00:51","date_gmt":"2020-12-30T23:00:51","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/amc-problems-continue-as-company-sells-more-shares-film\/"},"modified":"2020-12-31T02:00:51","modified_gmt":"2020-12-30T23:00:51","slug":"amc-problems-continue-as-company-sells-more-shares-film","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/amc-problems-continue-as-company-sells-more-shares-film\/","title":{"rendered":"#AMC Problems Continue As Company Sells More Shares \u2013 \/Film"},"content":{"rendered":"

“#AMC Problems Continue As Company Sells More Shares \u2013 \/Film<\/strong>”<\/p>\n

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\"amc<\/a><\/p>\n

The future of movie theaters remains somewhat up in the air right now, and AMC<\/strong> \u2013 the largest theater chain in the United States \u2013 is suffering. As a result, AMC has just filed to sell up to 50 million more shares of stock with the hopes of staying solvent (solvency allows a\u00a0company to meet its long-term debts and financial obligations). As a result, the company\u2019s\u00a0stock was down nearly 5% as of today. AMC previously reported they would need at least $750 million to make it through 2021.<\/p>\n

While we\u2019re all hoping for better things in 2021, don\u2019t expect some sort of miraculous switch to be flipped on January 1. The coronavirus continues to be a real problem in all sorts of ways. Yes, there\u2019s a coronavirus vaccine, but by all accounts, it\u2019s not being distributed as quickly as it should be. As the Washington Post<\/em> reports<\/a>, \u201c80 to 85 percent of Americans need to be vaccinated to reach herd immunity,\u201d but, \u201cAt the current rate, it would take the United States app<\/a>roximately 10 years to reach that level of inoculation.\u201d
\nMovie theaters continue to be hard-hit by the current situation, especially AMC, the nation\u2019s biggest theater chain. In March of 2020, AMC\u00a0shut down all of its theaters due to the COVID-19 pandemic, with the understanding being that the shutdown would last about six to twelve weeks. By June, however, AMC was saying<\/a> there was \u201csubstantial doubt\u201d they could remain in business.\u00a0The theater chain started reopening locations in August, because once upon a time, many folks were operating under the incorrect assumption that the virus would be gone by summer. It wasn\u2019t, and AMC continued to flounder, reporting<\/a> that their existing cash \u201cwould be largely depleted by the end of 2020 or early 2021.\u201d<\/p>\n

Over the Christmas weekend,\u00a0Wonder Woman 1984<\/em> managed to open in theaters, and did better-than-expected, resulting in the\u00a0biggest post-pandemic opening for a movie yet. However, that still wasn\u2019t enough, and it was reported that\u00a0AMC shares were at their lowest point since early November. Today, Deadline has revealed that the theater chain has filed to sell\u00a050 million more shares with hopes of staying afloat. As of December 28, the company has raised\u00a0$104 million through stock sales, but added that \u201cbankruptcy remains a risk if it can\u2019t continue to raise the funds it needs waiting for the theatrical exhibition business to recover.\u201d<\/p>\n

In their filing, AMC said:<\/p>\n

\u201cOur ability to obtain additional liquidity, which if not realized or insufficient to generate the material amounts of additional liquidity that will be required until we are able to achieve more normalized levels of operating revenues, likely would result with us seeking an in-court or out-of-court restructuring of our liabilities, and in the event of such future liquidation or bankruptcy proceeding, holders of our common stock and other securities would likely suffer a total loss of their investment.\u201d<\/p>\n<\/blockquote>\n

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“#AMC Problems Continue As Company Sells More Shares \u2013 \/Film” The future of movie theaters remains somewhat up in the air right now, and AMC \u2013 the largest theater chain in the United States \u2013 is suffering. As a result, AMC has just filed to sell up to 50 million more shares of stock with…<\/p>\n","protected":false},"author":1,"featured_media":144523,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/d13ezvd6yrslxm.cloudfront.net\/wp\/wp-content\/images\/amc-problems.jpg","fifu_image_alt":"","footnotes":""},"categories":[17],"tags":[1544,1543],"class_list":["post-144522","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-social-mediaa","tag-amc-theatres","tag-business-and-industry-news"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/144522","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=144522"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/144522\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/144523"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=144522"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=144522"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=144522"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}