AMC Entertainment Holdings, Inc. (NYSE:AMC) shares are trading lower on Thursday, following the company’s morning announcement that it closed its previously announced registered direct offering of 95,250,000 shares of common stock. The transaction raised gross proceeds of approximately $200 million before agent fees and expenses, resulting in equity dilution for shareholders.

• AMC Entertainment shares are retreating from recent levels. What’s weighing on AMC shares?

Debt Redemption Plans

According to the company’s press release, AMC intends to use the net proceeds primarily to call and redeem all $125,471,000 aggregate principal amount of its 6.125% Senior Subordinated Notes due 2027. Following this redemption, the company does not anticipate any material debt principal repayments until calendar year 2029.

CEO Commentary On Capital

Commenting on the completion of the offering, Adam Aron, chairman and CEO of AMC Entertainment, stated, “We are extremely pleased with the institutional investor interest in and support of AMC that we believe is reflected in this transaction. The successful completion of this Offering provides AMC with approximately $200 million of gross proceeds, meaningfully strengthens our balance sheet and cash position, and allows AMC to make some attractive growth-oriented investments as soon as this autumn at some of our already higher-grossing theatres.”

Box Office Momentum

The capital restructuring comes amid increased domestic box office activity. Over the prior weekend, the theatrical release of “Toy Story 5” by Walt Disney Co. achieved a $160 million domestic opening. AMC reported hosting over 4.8 million moviegoers globally from Thursday through Sunday, marking its highest attendance weekend of 2026.

AMC Stock: Key Technical Levels To Watch

From a longer-term trend view, AMC is still trying to stabilize after a weak 12-month run (down about 40%), and Thursday’s pullback keeps it stuck in a choppy zone rather than a clean uptrend. The stock is trading 15.4% below its 20-day SMA ($2.12) and 5% below its 200-day SMA ($1.89), which suggests rallies have recently been sold and longer-term overhead supply remains active.

At the same time, AMC is trading 1.1% above its 50-day SMA ($1.78) and 21.2% above its 100-day SMA ($1.48), so the intermediate base isn’t broken yet. The crossover picture is mixed: the 20-day SMA is above the 50-day SMA (near-term bullish), but the 50-day SMA is still below the 200-day SMA (a bearish longer-term backdrop).

AMC Stock Price Activity: AMC Entertainment shares were down 11.28% at $1.77 at the time of publication on Thursday, according to Benzinga Pro data.

Photo: IgorGolovniov / Shutterstock