AMC Entertainment Holdings Inc. shares AMC,
shot up 28.2% with a very heavy volume on Tuesday after the cinema operator revealed that it raised $ 100 million through first guarantee, guaranteed notes due in 2026. Turnover rose to 206.3 million number of shares, enough to make the shares more actively traded on the NYSE, and more than six times the full day average over the past 30 days of about 33.4 million shares. The shares have now risen 51.0% since they closed at a record low of $ 1.98 on January 5. AMC said $ 100 million in notes will bear interest at a rate of 15% per year. Interest for the first three interest periods after the issue date can be paid in cash at a rate of 17% per year. The company can redeem up to 35% of the principal value of the notes using proceeds from stock offers on or before January 15, 2023. Despite recent gains, the shares still lost 15.6% in the last three months and plunged 59.0 % in the last 12 months, while the S&P 500 SPX,
gained 14.2% last year.
