AMC Entertainment Holding stock conversion plan blocked
1 year ago
285
Shares of movie theater chain AMC Entertainment Holding experienced a significant surge after a Delaware judge blocked a stock conversion plan. The plan, which aimed to issue a substantial number of new shares, was rejected by the court as it would have been unfair to common stockholders but could have helped the theater chain pay off over five billion dollars in debt. Now, AMC will need to reassess its strategy to reorganize its debt.
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