A supermarket which has been cheapest for shopping essentials since January is now even cheaper.
14.08.2023 - 21:29 / deadline.com
Despite having new fundraising options in the wake of a judge’s ruling on Friday, AMC Entertainment started the week on a jarring note as its stock price skidded to its lowest level since January 2021.
The shares plummeted 35% on more than five times their normal trading volume, closing at $3.40. Investors pounced after a Delaware Chancery Court judge approved a settlement with shareholders and ruled that the company can convert its “APE” (AMC Preferred Equity) shares into common shares. A group of retail investors (individuals now comprise the majority of AMC’s investor base) had filed suit seeking to block the APE-to-equity conversion and a corresponding 1-for-10 reverse stock split, citing concerns about dilution. The corporate maneuvers are designed to provide much-needed liquidity so that AMC can avoid the fate of top peers like Regal Cinemas parent Cineworld, which just emerged from a bankruptcy process.
As the company’s stock price was plunging, APE units rose 16% to close at their highest point since February.
AMC CEO Adam Aron has been warning of the potential for a cash crunch, even as the company reported an encouraging set of second-quarter financials. Especially vexing for the exhibition sector is the unknown impact of the dual strikes paralyzing Hollywood. If they go deep into the fall without a resolution, the movie pipeline will undoubtedly be affected beyond the release-date reshuffling that has gone on in recent weeks.
In a research note to investors Monday morning, B Riley analyst Eric Wold said the judge’s ruling “opens the door” for AMC to potentially raise as much as $168 million. Even though major concerns remain about the company’s debt load, Wold wrote that the new equity to be raised after the
A supermarket which has been cheapest for shopping essentials since January is now even cheaper.
Lauren Lyle is best known for her role as Marsali MacKimmie Fraser in hit time-travelling drama Outlander and, most recently, as the titular detective in Karen Pirie.
The cast of Friends will always be there for us, but it might just be in the form of re-runs of the beloved sitcom.
Crystal Hefner is finally breaking her silence about her late husband, Hugh Hefner — and she’s got A LOT to say.
UPDATE, with new tour stops: Comedian Dave Chappelle has added five new dates to his fall comedy tour – now officially titled Dave Chappelle Live: It’s A Celebration, B!%?#&$! – with October stops in Milwaukee, Boston, Raleigh, Charlotte and Atlanta.
Addie Morfoot Contributor The upcoming Woodstock Film Festival will kick off with Chloe Domont’s “Fair Play” and present a lifetime achievement award to James Ivory. The 24th edition of the fest, which runs from Sept.
Elton John is back home after a brief hospitalization over the weekend after falling at his villa in Nice, France. The 76-year-old singer was taken to the orthopedic department of the Princess Grace Hospital in Monaco where he was treated for minor injuries.«We can confirm that following a slip yesterday at his home in the south of France, Elton visited the local hospital as a precautionary measure,» John’s rep tells ET.
Elton John is recovering.
Elton John was admitted to hospital after suffering a fall at his villa in France.The 76-year-old singer, who recently retired from touring, spent the night at the Princess Grace hospital in Monaco, where he was treated for minor injuries.A spokesperson told BBC News that the singer was hospitalised “following a slip yesterday at his home in the south of France”.“Elton visited the local hospital as a precautionary measure. Following check-ups, he was immediately discharged this morning and his now back at home and in good health.”Earlier this month, John was seen at a dinner party with Kevin Spacey, one month after giving testimony in the actor’s sexual assault trial.In a video uploaded by a band named The Snugglers on Instagram, the pair are seen alongside John’s husband David Furnish having dinner at restaurant La Petite Maison in Nice, France.Last month (July 26), Spacey was cleared of nine sexual offence charges in London after a four-week trial, including seven counts of sexual assault, one count of causing a person to engage in sexual activity without consent, and one count of causing a person to engage in penetrative sexual activity.John held the final concert of his Goodbye Yellow Brick Road tour at Stockholm’s Tele2 Arena last month.
Elton John had a fall at his villa in Nice, France, over the weekend.
Sandra Bullock is feeling the love from fans.
Tove Styrke has joined the cast of a new Stockholm production of David Bowie‘s Lazarus musical.The Swedish singer will feature in the new production, which is set to premiere on February 15, 2024 at the Göta Lejon theatre, alongside Linus Wahlgren, Simon J Berger, Björn Bengtsson, Christopher Wollter, Lisa Larsson and more.“I’ve been dying to tell you this,” Styrke wrote in a Facebook post this week. “In 2024 I will join an amazing cast and director for the new production of David Bowie’s “Lazarus” in Stockholm.
Leading exhibitor AMC Entertainment completed a 1-for-10 reverse stock split this morning, a planned move preceding Friday’s conversion of its preferred “APE” shares into common stock.
Emmerdale's Amy Nuttall has 'split from her cheating husband Andrew Buchan for a second time' as he 'failed to stick to the marriage rules' she issued him after his 'affair' with Leila Farzad.The soap star, 41, is reportedly 'gutted' but definitive that their 11-year marriage is over after Andrew, 44, didn't fulfil the demands she's believed to have set out in order to help rebuild their relationship. She's reportedly asked the Broadchurch actor to leave their family home for the second time since February when it was first revealed that he had had an alleged secret romance with his BBC crime thriller Better Together co-star, Leila. A source told The Sun: 'It took a lot for Amy to give the marriage another chance but she thought it was worth one final roll of the dice.
The parents of Location, Location, Location presenter Phil Spencer have died in a car crash. His father, Richard, 89, and mum Anne, 82, tragically died on Friday lunchtime when the car they were travelling crashed into a shallow tributary river that runs through their estate. It happened on the farm at Littlebourne, near Canterbury, Kent, where Phil, 53, and his siblings grew up.
A new school catering for special educational needs is to be built in Hazel Grove so that more children with additional needs will be able to attend lessons closer to their homes.
Disney has been hit with a lawsuit in Los Angeles Superior Court by film financier TSG, which claims that the media giant used “nearly every trick in the Hollywood accounting book” to hoard hundreds of millions in profit.
Peter Beale has been played by a stream of stars over the years – seven to be exact. But never before has an actor reprised their role as the famous Walford resident – until now.Thomas Law, 30, is back in EastEnders picking up the character he left behind 13 years ago. After Thomas’ exit in 2010, Peter was played by Ben Hardy and Dayle Hudson.
portable air conditioner is a great choice for the hot summer months and is currently on sale for its lowest prices this year. Not only is the Black+Decker's portable air conditioner backed by over 28,000 perfect ratings from Amazon shoppers, but it is also 40% off right now.Depending on which size you need for your room, the portable air conditioner is designed to cool down spaces up to 350 square feet.
CEO Adam Aron has expounded on Twitter and most recently on AMC Entertainment’s latest earnings call about the risk of a cash crunch and even bankruptcy if it wasn’t able to secure financing in a still uncertain box office climate.