AMC Entertainment Holdings Inc.’s push to convert its AMC preferred equity units, or APEs, into common stock is a massive opportunity in the company’s battle to eliminate debt, according to B. Riley Securities analyst Eric Wold. (Photo by Scott Olson/Getty Images) A previous version of this story included an incorrect figure for the amount of debt AMC had at the end of its fiscal third quarter. The correct figure is $5.325 billion. AMC Entertainment Holdings Inc.’s push to convert its AMC preferred equity units, or APEs, into common stock is a massive opportunity in the company’s battle to eliminate debt, according to B. Riley Securities analyst Eric Wold. In an SEC filing Friday, the movie-theater chain and meme-stock darling announced a special meeting of shareholders to increase the number of AMC AMC, -8.89% authorized shares from just over 524 million to 550 million and authorize a 1-for-10 reverse split of the company’s common stock, converting APEs APE, +15.36% into shares of common stock. AMC’s stock fell 6.7% Monday, while the APEs rose 16.1%. The S&P 500 SPX, -0.89% declined 0.7%. “Given that APE unit holders essentially control the vote at 64% of combined holdings and may not get another […]
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
