AMC’s new ‘APE’ units are a meme-friendly way to raise cash fast
AMC announced plans to reverse split its stock and convert the APE shares in December 2022. The company, needing shareholder approval for both initiatives, scheduled the shareholder vote for March 2023. The transaction doesn't change the company's value or the value of shareholder positions. Aron wrote in a tweet the company’s new APE units will allow it to “raise capital, pay debt,” and more. That could potentially be enough to keep it afloat while competitors tease bankruptcy. The short of it,...