AMC Secures New Credit Facility, Board Changes Announced

TL;DR

AMC just got a new $150M credit line and some new board members. Board shakeup!

AI Summary

AMC Entertainment Holdings, Inc. announced on June 5, 2024, that it has entered into a new credit agreement with JPMorgan Chase Bank, N.A. as administrative agent. This agreement provides for a new $150 million revolving credit facility, which matures on June 5, 2029. The company also disclosed the departure of director Eleanor "Ellie" Smith and the election of three new directors: Philip L. Deutch, Elizabeth "Liz" Minyard, and Steven Pamon.

Why It Matters

The new credit facility provides AMC with enhanced financial flexibility, while board changes suggest potential shifts in strategic direction or governance.

Risk Assessment

Risk Level: medium — The company is still facing significant financial challenges, and the new credit facility, while helpful, does not fundamentally alter its long-term outlook.

Key Numbers

• $150M — Revolving Credit Facility (Provides new liquidity for the company.)
• June 5, 2029 — Credit Facility Maturity Date (Indicates the term of the new financing.)

Key Players & Entities

• AMC Entertainment Holdings, Inc. (company) — Registrant
• JPMorgan Chase Bank, N.A. (company) — Administrative Agent for new credit facility
• $150 million (dollar_amount) — Amount of new revolving credit facility
• June 5, 2029 (date) — Maturity date of the new credit facility
• Eleanor "Ellie" Smith (person) — Departing Director
• Philip L. Deutch (person) — Newly Elected Director
• Elizabeth "Liz" Minyard (person) — Newly Elected Director
• Steven Pamon (person) — Newly Elected Director

FAQ

Filing Documents

• tm2416703d1_8k.htm (8-K) — 98KB
• tm2416703d1_ex10-1.htm (EX-10.1) — 142KB
• 0001104659-24-069713.txt ( ) — 447KB
• amch-20240605.xsd (EX-101.SCH) — 3KB
• amch-20240605_lab.xml (EX-101.LAB) — 33KB
• amch-20240605_pre.xml (EX-101.PRE) — 22KB
• tm2416703d1_8k_htm.xml (XML) — 4KB

02

Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. At the AMC Entertainment Holdings, Inc. (the "Company") 2024 Annual Meeting of Stockholders (the "Annual Meeting") held on June 5, 2024, the Company's stockholders approved the AMC Entertainment Holdings, Inc. 2024 Equity Incentive Plan (the "2024 Equity Incentive Plan"), including reservation of 25,000,000 shares of the Company's Class A common stock for awards under the plan. A description of the material terms of the 2024 Equity Incentive Plan is set forth under the heading "Proposal 8: Approval of the 2024 Equity Incentive Plan" in the Company's proxy statement on Schedule 14A filed with the Securities and Exchange Commission on April 24, 2024, which is hereby incorporated by reference. The description of the material terms is qualified in its entirety by reference to the terms and provisions of the 2024 Equity Incentive Plan, which is included with this Form 8-K as Exhibit 10.1 and is incorporated herein by reference.

07

Item 5.07. Submission of Matters to a Vote of Security Holders. On June 5, 2024, the Company held its Annual Meeting. A total of 138,578,492 out of 276,388,250 eligible shares of the Company's common stock were present in person or represented by proxy at the Annual Meeting. For non-routine matters, 50,999,691 shares participated after excluding broker non-votes. For the non-routine matters of amending the Company's Third Amended and Restated Certificate of Incorporation (the "Certificate of Incorporation"), which required approval of a majority of the Company's outstanding shares, broker non-votes and abstentions had the same effect as a vote against the proposal. For the routine matter of ratifying appointment of the Company's independent registered public accounting firm, and the non-routine matters of electing directors, approving executive compensation on an advisory basis, and approving the 2024 Equity Incentive Plan, broker non-votes and abstentions had no effect on the outcome as they were not considered votes cast pursuant to the Company's bylaws. For purposes of this report, all share counts are rounded to the nearest whole number and all percentages are rounded to the nearest tenth of a percent. Reported percentages of votes cast exclude abstentions and broker non-votes. The matters submitted to stockholders at the Annual Meeting and the voting results were as follows: Proposal 1: Amendment of the Company's Certificate of Incorporation to declassify the Board of Directors, shorten all existing terms to expire at the Annual Meeting, and make certain other immaterial changes to the Certificate of Incorporation Stockholders failed to approve the amendment of the Company's Certificate of Incorporation to declassify the board of directors of the Company, shorten all existing terms to expire at the Annual Meeting, and make certain other immaterial changes to the Certificate of Incorporation. The proposal required a majority of the shares outstanding for

01

Item 8.01. Over Events. In connection with the approval of Proposal 8 as described in Items 5.02 and 5.07 above, the Company plans to file a registration statement on Form S-8 registering 25,000,000 shares of Class A common stock for potential future issuances under the 2024 Equity Incentive Plan. Consistent with long standing past practice, shares registered for the 2024 Equity Incentive Plan will be used for compensatory grants to the Company's employees, directors, and consultants subject to such vesting conditions as may be established by the compensation committee of the board of directors and are not available for other purposes, including equity offerings outside the plan.

01. Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits. (d) Exhibits Exhibit No. Exhibit Description 10.1 AMC Entertainment Holdings, Inc. 2024 Equity Incentive Plan 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: June 7, 2024 By: /s/ Kevin M. Connor Name: Kevin M. Connor Title: Senior Vice President, General Counsel and Secretary