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Cinema chain needs shareholders to vote for a proposal that effectively increases common equity
Hedge fund Antara Capital to buy $110mn of new preferred units from group that was a symbol of meme-stock boom
When dilution is a solution
APE unit trades at roughly $7 while AMC shares change hands at $10, offering an arbitrage opportunity
Introducing the Frankensplit. Plus: Ofac, MoviePass, Tim Curry, etc
It will take a bold plot twist to give this a happy ending
Creditors are unlikely to take their cues from the equity market
Cinema chain’s gold mine deal marks chief executive’s latest move to tap Reddit army of retail investors
The US cinema chain’s investment in a Nevada miner may be just what its retail investors want
What stage of the cycle is this?
Theatre chain embraced by Redditors slashes interest rate burden by as much as half
Movie theatre chains set to shrink as sector continues transition to streaming on smaller screens
Lex was impressively wrong on meme stock favourites AMC and GameStop
Plus, UK regulators move to derail Facebook’s plans to dominate the GIF game, and Big Four partners enjoy a juicy payday
But does it even matter?
Theatre chain’s future remains dependent on box office receipts
Asset manager says surge in retail buying has generated ‘major distortions’ in cinema chain’s share price
Cinema chain’s investors balk at creation of more shares after burst of fundraising
Rules-based passive vehicles have had no option but to allow the meme stocks’ weightings to increase dramatically
And yet more about US housing
Cinema chain warns surge in share price is ‘unrelated’ to business fundamentals
The saga keeps on going, and even value ETF investors are involved.
It is a good thing the conglomerate has plenty more assets it can sell
Is all reason dead?
Oil prices maintain their gains following Opec+ meeting