NEW YORK, Oct 13 — AMC Entertainment Holdings Inc may need to raise additional capital either entirely or mostly through equity, its CEO told Reuters late yesterday, as the cinema operator grapples with the impact of the coronavirus pandemic. There was no further contingency planning on the table...
Wednesday, 14 Oct 2020 04:06 PM MYTNEW YORK, Oct 13 — AMC Entertainment Holdings Inc may need to raise additional capital either entirely or mostly through equity, its CEO told Reuters late yesterday, as the cinema operator grapples with the impact of the coronavirus pandemic.
“At the moment there is no Plan B under consideration,” he said. “If we were literally running out of cash, we would have to come up with a Plan B and we have a pretty good sense of what that Plan B would be but that is not something we are actively considering today.” With the pandemic changing consumer behaviour globally, more viewers are being driven to digital video services as people spend more time at home due to restrictions on movement and a switch to working from home, which has shuttered theatres.
“Mostly equity, yes. Either all or vast majority being equity”, he added, when asked if the additional potential capital raise was going to come through equity.
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