Summary by Moomoo AI
AMC Entertainment has executed a series of privately negotiated agreements between August 5 and September 30, 2024, to extinguish $152.9 million in unsecured debt. The debt reduction was achieved through a combination of 11.1 million shares of Class A common stock and $103.1 million in cash, excluding accrued interest.The extinguished debt consisted of $15.6 million in 5.75% subordinated notes due 2025, $9.6 million in 5.875% subordinated debt due 2026, and $127.7 million in 10%/12% cash/PIK toggle subordinated notes due 2026. The company maintains the flexibility to engage in similar transactions in the future, though it is not obligated to do so.