![]() Still, investors remain skeptical about AMC stock. They have let AMC raise much welcomed cash, reduce debt and in so doing deleverage our balance sheet and allow us to explore possible M&A activity,” added Aron. “Clearly, the existence of APEs has been achieving exactly their intended purposes. We have agreed with Antara to raise $110 million dollars of fresh equity capital, taking our total equity capital raised through the sale of APE units to $272 million of additional cash over the last 90 days.” ![]() In addition, AMC’s board seeks to hold a special meeting for AMC and APE stakeholders, with one of the points of discussion involving a “reverse-split of AMC common shares at a 1:10 ratio.”Īdam Aron, Chairman and CEO of AMC Entertainment stated in part, “AMC’s ongoing capital raising efforts and balance sheet strengthening continues in earnest. Still, it should also be noted that on a year-to-date basis, APE tanked 71.17%. ![]() In the trailing five days, APE returned stakeholders a handsome profit of 133.78%. Specifically, the new capital raise will materialize through the sale of AMC’s preferred equity “APE” units to Antara Capital, LP in two tranches at a weighted average price of 66 cents per share.įor the record, APE closed at 68.5 cents on Dec. As well, it called for a reverse stock split that will require shareholder approval. Late last week, AMC stock fell sharply as the underlying company announced a $110 million capital raise. Still, contrarian gamblers might have some modest reason for hope. Not surprisingly, AMC stock attracted attention in the derivatives market but not for encouraging reasons. However, this time around, the cineplex operator faces severe macroeconomic pressures to magnitudes previously not witnessed for many years. ![]() One of the publicly traded companies that defined the meme-stock phenomenon, AMC Entertainment ( AMC) again finds itself in unfortunately familiar territory: struggling for positive momentum. ![]()
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