With 343 theaters and a whopping 4,950 screens, AMC is the second largest movie theater operator in the United States, Cramer said. Attendance records show AMC is actually getting people through the doors and into its seats, he said. AMC also has the highest average ticket price at $9.17, which is roughly 4 percent higher than rival Regal, for example, he continued. It also has more IMAX theaters than its competitors, with 136 IMAX screens, Cramer said.
The entertainment company plans to sell 18.4 million shares within the $18 to $20 a share range in its IPO next week. AMC plans to use the proceeds to pay down debt and invest in the business.
"At the mid-point of its price range, AMC would be a $1.8 billion company. I believe it's absolutely worth owning at those levels, and I wouldn't even blink if the IPO ends up pricing at $22," Cramer said. "It's going to be difficult, but if you can call your broker and try to get some shares in this AMC deal, I really think you should."
Cramer said he would pay up to $23 for AMC in the aftermarket, but not anymore than that.
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