Barrons.com
AMC Stock Conversion to Happen Today. What to Expect.
AMC Entertainment Holdings will convert its preferred equity units to common stock during Friday morning’s opening bell, a move traders have been anticipating all week. AMC (ticker: AMC) debuted its AMC preferred units, or APEs, last year on the New York Stock Exchange in an attempt to raise money to pay off company debts. Before the market opened Thursday, AMC completed a 10-for-1 reverse stock split ahead of Thursday’s so as to reduce the number of AMC shares outstanding, which will allow the company to issue more shares down the line.