Approval of the company’s revised stock-conversion plan marks a “significant milestone” for the company, AMC CEO Adam Aron said.
AMC’s revised stock-conversion plan was approved by the Delaware Chancery Court Friday, marking what CEO Adam Aron described as a “significant milestone” in a letter to investors Monday.
“Knowing that we can do our best for AMC to smartly raise capital is a terrific relief,” Aron said. The CEO has repeatedly warned that AMC faces liquidity challenges. By proceeding with its stock-conversion plan, AMC will be more resilient and will also eliminate the capital-raising inefficiencies of APE units trading at a significant discount to AMC shares, Aron said in his letter Monday.The resolution of AMC’s court case removes “a significant overhang” for the company, Wedbush analyst Alicia Reese wrote in a note released Monday. “We expect AMC and APE shares to converge around $3 into the conversion ,” she said.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Ukraine makes 'tactically significant' advances amid three sector push—ISWKyiv's troops have reached the outskirts of the town of Robotyne in the Zaporizhzhia region.
Read more »
Ukraine makes partial but 'significant' gain in south as counteroffensive grinds on | CNNUkraine has claimed “partial success” at a village along the southern front, as Kyiv’s counteroffensive continues to struggle to make significant progress.
Read more »
Norman Reedus, Josh McDermitt Shake & Bake Talladega: Ride PreviewReturning on September 10th, here's a sneak preview of AMCTV & AMCPlus' RideWithNormanReedus, featuring a mini TheWalkingDead reunion between NormanReedus and JoshMcDermitt. / RWNR TWD DarylDixon WalkingDead_AMC AMC_TV AMCPlus
Read more »
‘Significant delays’ expected for Duval bus riders on first day of schoolDuval County schools send a message to parents on Sunday about bus delays for the first day of school on Monday.
Read more »
Ukraine makes partial but ‘significant’ gain in south as counteroffensive grinds on“The Ukrainian forces’ ability to advance to the outskirts of Robotyne – which Russian forces have dedicated significant effort, time, and resources to defend – remains significant even if Ukrainian gains are limited at this time,” experts said.
Read more »