deadline.com/2022/08/amc-share-price-surge-ape-dividend-1235087223
AMC Entertainment's stock price jumped 31% on Friday from $16.97 to $22.18. This morning they jumped again 14%, opening at $24.06 and hitting a high of $27.50. The domestic box office is about to go into a funk for two-and-half months due to the lack of tentpole product.

The preferred Equity stock will be issued to AMC common shareholders on the dividend date of Aug. 19, and be listed on the New York Stock Exchange under the symbol APE. The APE share maneuver by AMC will give the exhibitor more financial flexibility. At the time of this post's publication, AMC shares were trading at $25.02.

The new preferred share is akin to having another stock and AMC will be able to do deals, and potentially pay down debt. “With the creation of APEs, AMC is deeply and fundamentally strengthening our company. We already have shareholder approval in hand such that our board can decide we can issue more APEs in the future above and beyond those going out with this initial dividend.”

“The flexibility accruing to us from APEs can instead let us continue our efforts to try instead for AMC to thrive and to soar,” Aron said. “I act and think like a shareholder, because I too am a shareholder and a big one, in that.”

AMC’s Q2 sales were up thanks to a blockbuster summer fueled by Top Gun: Maverick to $1.16 billion vs. $444.7 million over the same quarter last year. At the current AMC share price, I now own outright approximately $15 million of AMC stock.
Posted by AL alphaman
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