New York, February 13, 2026, 19:07 EST — After-hours
AMC Entertainment Holdings (NYSE: AMC) has signed a supplemental indenture, tweaking the contract on notes at its Muvico unit, according to a filing. The update is designed to give AMC more room to refinance both its term loan and Odeon Finco’s 12.75% senior secured notes due 2027, potentially using new debt secured by assets and backed by AMC and its affiliates.
This tweak is significant for AMC, with its balance sheet still under scrutiny in the market. The company’s relied on refinancing to keep afloat as theater traffic remains choppy. Any whiff of added collateral, more debt, or fresh dilution? The stock usually reacts in a hurry.
With U.S. cash equity markets shut down Monday for Washington’s Birthday, investors won’t see the regular session until Tuesday—an extra day to sift through filings and funding clues. 1
AMC’s stock finished Friday at $1.23, ticking up 0.8% after four straight sessions in the red. Roughly 49 million shares changed hands, StockAnalysis data showed. 2
The stock slid 3.9% Thursday to close at $1.22 during a wider selloff, still sitting about 70% below its 52-week peak, according to MarketWatch data. Cinemark shares lost 4.5%, while Marcus Corp ended down 2.1% the same day. 3
AMC warned late last month that its fourth-quarter net loss would be deeper than analysts were looking for, and announced a deal with certain creditors aimed at reducing interest payments and pushing out debt maturities. Chief executive Adam Aron noted the box office “improved modestly year-over-year, rising approximately 1.5%,” though the company still posted a loss. 4
AMC will announce its fourth-quarter and full-year 2025 earnings on Feb. 24, with the webcast on tap for 5 p.m. ET, the company’s investor relations calendar shows. 5
AMC earlier this week rolled out a program to sell as much as $150 million of its Class A stock via at-the-market offerings and certain forward deals, according to another filing. The company noted that any proceeds may be used to boost liquidity, address debt — either by repaying or refinancing — and make upgrades under its “AMC GO Plan.” 6
This latest move on debt isn’t actually a straight-up refinancing. If AMC takes on fresh secured loans, expect stricter terms and more collateral handed over to lenders. Leaning hard on stock sales? That would mean more dilution for current shareholders under the program.
Because the holiday delays the next session until Tuesday, traders are lining up to see if more details on the refinancing plan come out — things like pricing, collateral, timing. They’re also on alert for any hint that the equity-sale program’s getting tapped. For now, eyes are on the Feb. 24 earnings report and call as the next real trigger.
