AMC's equity is getting torched this morning in the pre-market session after the company revealed a $110 million equity capital raise and a $100 million debt for equity exchange and a proposed vote to convert the company's "APE" preferred shares into common shares - before undertaking a reverse split.
The market seemed...unamused at the announcement. AMC common shares were down as much as 25% in the premarket session.
AMC's equity is getting torched this morning in the pre-market session after the company revealed a $110 million equity capital raise and a $100 million debt for equity exchange and a proposed vote to convert the company's "APE" preferred shares into common shares - before undertaking a reverse split.
The market seemed...unamused at the announcement. AMC common shares were down as much as 25% in the premarket session.
