AMC Entertainment Holdings, Inc. Provides Settlement Notice
October 16 2023 - 4:16PM
Business Wire
AMC Entertainment Holdings, Inc. (NYSE: AMC) (“AMC” or “the
Company”) today provided a settlement notice which is attached to
this press release and has been posted to the Investor Relations
section of AMC’s website at
https://investor.amctheatres.com/stock-information/Tax-Info/default.aspx.
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About AMC Entertainment Holdings, Inc.
AMC is the largest movie exhibition company in the United
States, the largest in Europe and the largest throughout the world
with approximately 900 theatres and 10,000 screens across the
globe. AMC has propelled innovation in the exhibition industry by:
deploying its Signature power-recliner seats; delivering enhanced
food and beverage choices; generating greater guest engagement
through its loyalty and subscription programs, website, and mobile
apps; offering premium large format experiences and playing a wide
variety of content including the latest Hollywood releases and
independent programming. For more information, visit
www.amctheatres.com.
Website Information
This press release, along with other news about AMC, is
available at www.amctheatres.com. We routinely post information
that may be important to investors in the Investor Relations
section of our website, www.investor.amctheatres.com. We use this
website as a means of disclosing material, non-public information
and for complying with our disclosure obligations under Regulation
FD, and we encourage investors to consult that section of our
website regularly for important information about AMC. The
information contained on, or that may be accessed through, our
website is not incorporated by reference into, and is not a part
of, this document. Investors interested in automatically receiving
news and information when posted to our website can also visit
www.investor.amctheatres.com to sign up for email alerts.
Forward-Looking Statements
This communication includes “forward-looking statements” within
the meaning of the federal securities laws, including the safe
harbor provisions of the Private Securities Litigation Reform Act
of 1995. In many cases, these forward-looking statements may be
identified by the use of words such as “will,” “may,” “could,”
“would,” “should,” “believes,” “expects,” “anticipates,”
“estimates,” “intends,” “indicates,” “projects,” “goals,”
“objectives,” “targets,” “predicts,” “plans,” “seeks,” and
variations of these words and similar expressions. Examples of
forward-looking statements include statements we make regarding the
use of proceeds from the ATM equity offering, changing market
dynamics and capitalizing on opportunities to further strengthen
AMC’s balance sheet. Any forward-looking statement speaks only as
of the date on which it is made. These forward-looking statements
may include, among other things, statements related to AMC’s
current expectations regarding the performance of its business,
financial results, liquidity and capital resources, and the impact
to its business and financial condition of, and measures being
taken in response to, the COVID-19 virus, and are based on
information available at the time the statements are made and/or
management’s good faith belief as of that time with respect to
future events, and are subject to risks, trends, uncertainties and
other facts that could cause actual performance or results to
differ materially from those expressed in or suggested by the
forward-looking statements. These risks, trends, uncertainties and
facts include, but are not limited to: the sufficiency of AMC’s
existing cash and cash equivalents and available borrowing
capacity; availability of financing upon favorable terms or at all;
AMC’s ability to obtain additional liquidity, which if not realized
or insufficient to generate the material amounts of additional
liquidity that will be required unless it is able to achieve more
normalized levels of operating revenues, likely would result with
AMC seeking an in-court or out-of-court restructuring of its
liabilities; the impact of the COVID-19 virus on AMC, the motion
picture exhibition industry, and the economy in general; increased
use of alternative film delivery methods or other forms of
entertainment; the continued recovery of the North American and
international box office; AMC’s significant indebtedness, including
its borrowing capacity and its ability to meet its financial
maintenance and other covenants and limitations on AMC's ability to
take advantage of certain business opportunities imposed by such
covenants; shrinking exclusive theatrical release windows; the
seasonality of AMC’s revenue and working capital; intense
competition in the geographic areas in which AMC operates; risks
relating to impairment losses, including with respect to goodwill
and other intangibles, and theatre and other closure charges;
motion picture production and performance; general and
international economic, political, regulatory and other risks;
AMC’s lack of control over distributors of films; limitations on
the availability of capital, , including on the authorized number
of common stock; dilution of voting power through the issuance of
preferred stock; AMC’s ability to achieve expected synergies,
benefits and performance from its strategic initiatives; AMC’s
ability to refinance its indebtedness on favorable terms; AMC’s
ability to optimize its theatre circuit; AMC’s ability to recognize
interest deduction carryforwards, net operating loss carryforwards,
and other tax attributes to reduce future tax liability; supply
chain disruptions, labor shortages, increased cost and inflation;
and other factors discussed in the reports AMC has filed with the
SEC. Should one or more of these risks, trends, uncertainties, or
facts materialize, or should underlying assumptions prove
incorrect, actual results may vary materially from those indicated
or anticipated by the forward-looking statements contained herein.
Accordingly, we caution you against relying on forward-looking
statements, which speak only as of the date they are made.
Forward-looking statements should not be read as a guarantee of
future performance or results and will not necessarily be accurate
indications of the times at, or by, which such performance or
results will be achieved. For a detailed discussion of risks,
trends and uncertainties facing AMC, see the section entitled “Risk
Factors” in AMC’s 2022 Form 10-K for the year ended December 31,
2022 and Form 10-Q for the quarter ended June 30, 2023, each as
filed with the SEC, and the risks, trends and uncertainties
identified in AMC’s other public filings. AMC does not intend, and
undertakes no duty, to update any information contained herein to
reflect future events or circumstances, except as required by
applicable law.
Category: Company Release
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INVESTOR RELATIONS: John Merriwether, 866-248-3872
InvestorRelations@amctheatres.com
MEDIA CONTACTS: Ryan Noonan, (913) 213-2183
rnoonan@amctheatres.com
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