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Ape Units

All articles tagged with #ape units

finance1 year ago

"Delaware Court Upholds AMC Stock Conversion Amid Market Fluctuations"

AMC Entertainment shares are down after Delaware's highest court upheld a ruling allowing the company to convert its stock to AMC Preferred Equity units (APE). This move, initially met with shareholder resistance due to dilution concerns, was part of a broader strategy to raise capital. The stock has been volatile recently, influenced by renewed interest in meme stocks and the social media return of GameStop trader Keith Gill.

via Benzinga|
#amc#ape-units#delaware-court
finance2 years ago

Citigroup's Catalyst Watch Triggers AMC Share Drop

AMC Entertainment Holdings Inc.'s stock fell after Citigroup opened a downside 30-day catalyst watch, anticipating downward pressure in the coming days. Investors are awaiting a chancery court decision that could allow the company to convert its AMC Preferred Equity units into common stock. Shareholders previously voted in favor of the conversion, but a class-action lawsuit delayed the process. Citigroup expects a ruling in favor of the proposal, which could lead to a convergence in the value of AMC common units and APE units, potentially putting downward pressure on AMC shares.

via MarketWatch|
#amc-entertainment-holdings-inc#ape-units#chancery-court
finance2 years ago

AMC's Stock Conversion Battle Reaches Endgame in Delaware Court

AMC Entertainment Holdings Inc.'s stock fell while its AMC Preferred Equity units (APEs) rose as the company's battle to convert APEs into common stock reached the Delaware Chancery Court. AMC shareholders previously voted in favor of the stock conversion proposal, which is part of the company's efforts to eliminate debt. A settlement agreement has been reached, pending approval from a chancery judge. The largest investor in the APEs, Antara Capital LP, has reduced its stake to below 10%.

via MarketWatch|
#amc-entertainment-holdings-inc#ape-units#debt-elimination