Will AMC convert ape shares to common stock?

AMC plans to convert APE shares to common stock and conduct a reverse stock split in order to raise money to pay down debt. Why 22nd Century Group Are Trading Lower By Around 20%? Here Are Other Stocks Moving In Monday's Mid-Day Session

Why was AMC a popular stock in 2021?

In early 2021, AMC became a popular stock among retail investors after the company appeared close to bankruptcy amid the pandemic fallout at movie theater chains. The stock surge at the time helped the company strengthen its financial position, as executives seized the opportunity to sell shares and repurchase debt.

Why did AMC raise $110 million?

In late Dec. 2022, AMC announced it raised $110 million to pay down debt by selling APE units to Antara Capital, LP to reduce the company’s debt load by around $100 million. The vote at the special meeting of shareholders was required to permit a wider conversion of APE units into AMC common shares.

What is AMC Theatres ® (AMC & ape)?

LEAWOOD, Kan., July 31, 2023--AMC Theatres® (NYSE:AMC & APE), the largest theatrical exhibitor in the United States and the world, today announced it achieved its highest single-week admissions revenue in the Company’s entire 103-year history, during the Friday-Thursday film week, July 21-July 27.