AMC Stock Plunges 22% While APE Soars 22% After Company Agrees to Settlement Terms, Opening up for APE Conversion

Dow Jones2023-04-04

AMC Entertainment Holdings Inc. stock dropped almost 22% in the extended session Monday after the movie-theater operator said in a filing that it has agreed to settlement terms relating to a shareholder litigation around a stock conversion.

The terms of the settlement would open the way for AMC’s proposal to convert its AMC Preferred Equity, or APE, units into shares of common stock, alongside a 10-to-1 reverse stock split and the capacity to sell more shares, which shareholders supported in mid-March but had faced court proceedings.

Shares of AMC ended the regular trading day up 2%. APEs were up around 22% in the extended session.

A final settlement is subject to a formal agreement and court approval; terms also include payment to the plaintiffs of about 4.4% of AMC’s stock, or about 6.9 million shares.

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Comments

  • Seah CL
    2023-04-04
    Seah CL
    K
  • Mmcheya
    2023-04-04
    Mmcheya
    ok
  • xiaobaii
    2023-04-04
    xiaobaii
    like & comment please
  • zykron
    2023-04-04
    zykron
    Hot sales before the reverse
  • Prosperity88
    2023-04-04
    Prosperity88
    Ok
  • moliya
    2023-04-04
    moliya
    Aiyo,,, AMC dropped. Again again....like falling nife........burning investors 🤑💰🤑🤑💰🤑🤑💰🤑
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