AMC Entertainment Terminates Material Definitive Agreement
Ticker: AMC · Form: 8-K · Filed: 2024-04-19T00:00:00.000Z
Sentiment: neutral
Topics: agreement-termination, corporate-events
Related Tickers: AMC
TL;DR
AMC just terminated a big deal, filing says. What's next?
AI Summary
AMC Entertainment Holdings, Inc. announced on April 19, 2024, the termination of a material definitive agreement. The filing also indicates other events and includes financial statements and exhibits. Specific details regarding the agreement and its termination were not provided in the excerpt.
Why It Matters
The termination of a material definitive agreement can signal significant changes in a company's strategic partnerships or financial arrangements, potentially impacting future operations and investor confidence.
Risk Assessment
Risk Level: medium — Termination of a material definitive agreement can introduce uncertainty regarding the company's business strategy and financial stability.
Key Players & Entities
- AMC ENTERTAINMENT HOLDINGS, INC. (company) — Registrant
- April 19, 2024 (date) — Date of earliest event reported
- Delaware (jurisdiction) — State of Incorporation
- 001-33892 (identifier) — Commission File Number
- 26-0303916 (identifier) — I.R.S. Employer Identification Number
- One AMC Way, 11500 Ash Street, Leawood, KS 66211 (address) — Principal Executive Offices
- 913-213-2000 (phone_number) — Registrant's Telephone Number
FAQ
What was the material definitive agreement that AMC Entertainment Holdings, Inc. terminated?
The provided excerpt does not specify the details of the material definitive agreement that was terminated.
When was the termination of the material definitive agreement reported?
The termination was reported as of April 19, 2024, which is the date of the earliest event reported.
What is AMC Entertainment Holdings, Inc.'s principal executive office address?
The principal executive offices are located at One AMC Way, 11500 Ash Street, Leawood, KS 66211.
What is AMC Entertainment Holdings, Inc.'s Commission File Number?
AMC Entertainment Holdings, Inc.'s Commission File Number is 001-33892.
What is the IRS Employer Identification Number for AMC Entertainment Holdings, Inc.?
The IRS Employer Identification Number for AMC Entertainment Holdings, Inc. is 26-0303916.
Filing Stats: 646 words · 3 min read · ~2 pages · Grade level 12.7 · Accepted 2024-04-19 16:35:59
Key Financial Figures
- $225.0 million — inment Holdings, Inc.'s (the "Company") $225.0 million senior secured revolving credit facilit
- $100 million — ding a minimum liquidity requirement of $100 million. As of April 19, 2024, and in anticipa
Filing Documents
- tm2411998d1_8k.htm (8-K) — 29KB
- 0001104659-24-049486.txt ( ) — 199KB
- amch-20240419.xsd (EX-101.SCH) — 3KB
- amch-20240419_lab.xml (EX-101.LAB) — 33KB
- amch-20240419_pre.xml (EX-101.PRE) — 22KB
- tm2411998d1_8k_htm.xml (XML) — 4KB
02
Item 1.02. Termination of a Material Definitive Agreement. To the extent applicable, the information set forth in Item 8.01 below is incorporated herein by reference.
01 Other Events
Item 8.01 Other Events. As previously disclosed, AMC Entertainment Holdings, Inc.'s (the "Company") $225.0 million senior secured revolving credit facility (the "Senior Secured Revolving Credit Facility" or the "Facility") matures by its terms on April 22, 2024, and the Company does not intend to renew the Facility. The Company has entered into a new letter of credit facility in order to continue to provide letters of credit in the ordinary course of business. The Senior Secured Revolving Credit Facility included a financial covenant that required, in certain circumstances, compliance with a certain secured leverage ratio (the "Revolver Financial Covenant"); however, the requisite revolving lenders previously agreed to suspend testing of the Revolver Financial Covenant through the testing period ending March 31, 2024 subject to certain conditions, including a minimum liquidity requirement of $100 million. As of April 19, 2024, and in anticipation of the maturity of the Facility, the Company has voluntarily terminated the commitments under the Senior Secured Revolving Credit Facility in full and paid off any remaining obligations with respect to the Senior Secured Revolving Credit Facility (the "Revolver Payoff"). Immediately from and after the Revolver Payoff, the Revolver Financial Covenant and the related covenant suspension conditions are no longer in effect pursuant to the terms of the Credit Agreement, dated as of April 30, 2013 (as amended from time to time) (the "Credit Agreement"). The termination of the Senior Secured Revolving Credit Facility does not otherwise affect the senior secured term loan facility under the Credit Agreement.
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits (d) Exhibits Exhibit No. Description of Exhibit 104 Cover Page Interactive Data File (embedded within the Inline XBRL document).
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. AMC ENTERTAINMENT HOLDINGS, INC. Date: April 19, 2024 By: /s/ Kevin M. Connor Name: Kevin M. Connor Title: Senior Vice President, General Counsel and Secretary