NEW YORK, January 13, 2026, 05:39 EST — Premarket
- AMC revealed changes to its notes that might permit up to $150 million in at-the-market stock sales beginning Feb. 2
- Citi slashed its AMC price target to $1.30 from $2.30, maintaining a sell rating
- Shares climbed 5.5% Monday, closing at $1.73 amid heavy trading volume
Shares of AMC Entertainment Holdings Inc are back in focus ahead of Tuesday’s U.S. open, following the company’s announcement of changes to its exchangeable notes that could trigger new share sales starting early February.
The filing matters because AMC’s stock is trading under $2, where even slight shifts in supply can sway a lightly traded share. It also highlights that the real story remains tied to the balance sheet, not ticket sales.
Wall Street remains on edge. Analysts keep highlighting weak ticket sales and the possibility AMC might tap shareholders for additional funding.
AMC shares climbed 5.5% on Monday, closing at $1.73, with trading volume hitting around 61 million shares—well above its usual pace. Despite the gain, the stock remains down about 58% from its 52-week high, according to market data. (MarketWatch)
On Jan. 12, AMC and its unit Muvico LLC filed an 8-K revealing they signed a supplemental indenture with GLAS Trust Company, the trustee and notes collateral agent, to modify the indenture for their senior secured exchangeable notes maturing in 2030.
The supplemental indenture lets AMC launch one or more “at-the-market” offerings—selling shares gradually on the open market—but only after Feb. 2, 2026, and capped at $150 million in net proceeds during the restricted period.
The document also resets certain aspects of the notes’ exchange mechanics and tweaks covenant language linked to AMC’s wider borrowing framework, a technical move that could still influence the company’s next steps.
Citi’s Jason Bazinet slashed his AMC price target to $1.30 from $2.30, sticking with a sell rating. He flagged “disappointing” U.S. box office numbers in Q4 as a key reason. Bazinet also noted AMC’s jump in authorized shares, now 1.1 billion, up from 550 million. (TipRanks)
Traders remain wary of dilution risk for this very reason. While selling stock can provide a financial cushion, it often limits upside if investors think the company will tap the market soon.
Still, the new authority doesn’t compel AMC to sell any shares. The key question is timing — will box-office results hold steady through spring, and can AMC access the market before investors digest the next earnings report?
Investors are set to monitor any fresh equity-sale filings as the Feb. 2 window opens, along with AMC’s upcoming quarterly results. Nasdaq’s earnings calendar currently estimates the report will drop on Feb. 24. (Nasdaq)
