Why Is AMC Networks (AMCX) Stock Down 11% Today?
AMCXAMC Networks(AMCX) Investor Place·2024-06-17 20:41

AMC Networks (NASDAQ:AMCX) stock is falling on Monday after the video entertainment company announced plans for a private offering of convertible senior notes due 2029. AMC Networks notes that this convertible offering will raise 125millionforthecompany.Itwillonlybeofferingtheseconvertibleseniornotestoinstitutionalinvestors.Also,theywillhavea13dayoptionstartingonthefirstdaythenotesareissuedtoacquireanother125 million for the company. It will only be offering these convertible senior notes to institutional investors. Also, they will have a 13-day option starting on the first day the notes are issued to acquire another 18.75 million worth of notes. AMC Networks already has plans for ...