Regal Cinemas completed a $250 million capital raise on Tuesday, which the theater chain says it will use to make upgrades to its existing theaters in the United States.
The company plans to use the new funds to add luxury recliners to more multiplexes and to upgrade the Regal website and ticketing app.
“With the strong support from our existing investors and real estate partners, Regal is well positioned to invest in growth opportunities with highly accretive investments including brand-new luxury recliners in the United States and digital enhancements for our loyal customers,” said CFO Thomas Song. “As we identify theatres for these improvements, we encourage our landlords to also reach out with interest for their respective locations.
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