Hedge fund firm Mudrick Capital Management has agreed to buy 8.5 million shares of AMC Entertainment Holdings' Class A Common stock for $230.5 million.
AMC announced the deal early this morning, saying it intends to continue to explore deleveraging opportunities. The proceeds will also be used for the acquisitions of additional theater leases, as well as investments to enhance the consumer appeal of existing theaters.
As for Mudrick, the firm reportedly sold all the shares within hours of the announcement for a profit.
The $3.8 billion deep value event-driven . . .
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