09:03 AM EDT, 06/17/2024 (MT Newswires) -- AMC Networks ( AMCX ) said Monday that it plans to offer $125 million total principal amount of convertible senior notes due 2029 in a private offering.

The company intends to offer a 13-day option to the initial purchasers to buy up to about $18.8 million aggregate principal amount of the notes, AMC added. It intends to use the net proceeds for general corporate purposes, including debt repayment, the company added.

Shares of the company were down 11.5% in recent Monday premarket activity.

Price: 13.90, Change: -1.81, Percent Change: -11.52