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AMC's (AMC) stock sank 7% on Thursday after the country's biggest cinema operator proposed a reverse stock split and a conversion of its preferred equity units into common shares.
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.
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 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 ...
The company said it plans to use the proceeds “to bolster liquidity, to repay, refinance, redeem or repurchase its existing indebtedness,” and general corporate purposes.
And the stock will begin trading at the split-adjusted price on June 10. Considering today's share price of $1,095, the price on June 10 should be around $109. Investors don't have to lift a finger
AMC stock sank about 11% on Thursday, hovering around $4.50 per share. The stock is down more than 90% over the past year as the company has been issuing shares to pay down its debt , which ...
A judge on Friday blocked a proposed settlement on AMC Entertainment Holdings’ stock conversion plan that would allow the company to issue more shares, sending its common shares soaring and ...