AMC Successfully Avoids Bankruptcy with New Funding

AMC Entertainment was granted a new lifeline after months of bankruptcy projections. The company announced on Jan. 25 that it has raised $917 million in new equity and debt capital since December. 

More than half of the new equity is thanks to generous investors. AMC issued a stock offering in December, with 164.7 million new common shares, raising the company $506 million. Additionally, AMC received a $411 million credit line through its European subsidiary, Odeon. 

“Today, the sun is shining on AMC,” said CEO and President Adam Aron in a press release.

“After securing more than $1 billion of cash between April and November of 2020, through equity and debt raises along with a modest amount of asset sales, we are proud to announce today that over the past six weeks AMC has r…