Thursday, June 13, 2024
Home Finance AMC Entertainment Shares Soar After Judge Blocks Equity Transactions

AMC Entertainment Shares Soar After Judge Blocks Equity Transactions


Many meme investors who own AMC’s common shares opposed the transactions out of concerns that their shares could be diluted

AMC’s proposed transactions would involve a conversion of preferred equity units into common shares.

Photo: frederic j. brown/Agence France-Presse/Getty Images

AMC Entertainment shares soared 70% after-hours Friday after a judge rejected a proposed court settlement that would have cleared the way for the movie-theater giant to complete a set of equity transactions enabling it to issue substantially more shares.

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