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It also can provide AMC with added capital enabling us to seek investment opportunities that could create significant shareholder value and could be transformative in nature”. He added: “As a result, this dramatically lessens any near-term survival risk for AMC, as we continue to work our way through this pandemic. “This new AMC Preferred Equity gives AMC a currency that can be used in the future to strengthen our balance sheet, including by paying down debt or raising fresh equity”, stated the Chief Executive Officer of AMC Entertainment, Adam Aron, in regards to the dividend.

AMC’s management appears to be using this mechanism to circumvent shareholders’ disapproval of previous proposals to issue and sell more common shares for the company to raise capital.Īccording to the official press release, AMC Entertainment there are currently 516,820,595 outstanding common shares, meaning that the same number of Preferred Equity Units will be issued as a result of this stock dividend.Īlso Read: AMC Entertainment Buys Back $72.5M of Its Debt at 31% Discount

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How to Watch Love Island UK From AbroadĮach AMC Preferred Equity Unit will have the same economic and voting rights as a common share.