AMC Entertainment Holdings, Inc. Announces $110 Million Equity Capital Raise, a $100 Million Debt for Equity Exchange, and a Proposed Vote to Convert AMC Preferred Equity (“APE”) Units Into AMC Common Shares and Implement a Reverse Stock Split

LEAWOOD, Kan.–(COMMERCIAL WIRE)–AMC Entertainment Holdings, Inc. (NYSE: AMC and APE) (“AMC” or “the Company”), today announced that it will raise $110 million of new equity capital through the sale of units of APE to Antara Capital, LP (“Antara”) in two tranches at a weighted average price of $0.660 per share. The closing price of the APE unit on the New York Stock Exchange on December 21, 2022 was $0.685.

Under the terms of the agreement, Antara, AMC’s current debt holder, will also exchange $100 million of principal amount of 2nd Lien Notes due 2026 for approximately 91.0 million APE units, thereby reducing AMC’s outstanding debt by $100. millions. As a result of the $100 million principal debt reduction, future annual interest expense will be reduced by approximately $10 million.

The sale of APE units to Antara will be divided into two tranches. The first tranche involves Antara’s immediate purchase of 60 million APE units under the Company’s market program (“ATM program”). The second tranche, for the purchase of approximately 106.6 million APE units, as well as the $100 million debt swap, are subject to the expiration of the waiting period under Hart-Scott-Rodino (“HSR”).

In addition, the AMC Board of Directors seeks to hold a special meeting for holders of AMC common shares and APE units (voting together) to vote on the following propositions:

• To increase the authorized number of AMC common shares to allow for the conversion of…