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AMC ( AMC) sank 7% to close at $4.91 per share on Thursday after the country's biggest cinema operator proposed a reverse stock split and a conversion of its APE ( APE) preferred equity units into ...
Additionally, a 1-to-10 reverse stock split is scheduled for August 24, according to an SEC filing, meaning every 10 shares held by an investor will now become one share but at a higher value.
AMC also executed a 10-for-1 reverse stock split at the time. AMC CEO Adam Aron previously said the stock conversion was crucial to AMC having proper cash balances in 2024 and 2025.
The "reverse stock split" appellation is a reference to the more common stock split in which shares are effectively divided to form a larger number of proportionally less valuable shares. New shares are typically issued in a simple ratio, e.g. 1 new share for 2 old shares, 3 for 4, etc. A reverse split is the opposite of a stock split.
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Following a $110 million capital raise and reverse stock split proposal in December, its stocks plunged to a 52 week low, CNBC reported. In 2022, AMC stock was down nearly 82%.
AMC Entertainment ( AMC) is cashing in on the revival of the meme stock trade. The struggling theater chain raised $250 million of "new equity capital" through the sale of 72.5 million shares on ...
In a reverse stock split, a company reduces the number of shares outstanding, boosting the share price. For example, with a 1:3 stock split, the number of shares is divided by three while the ...