AMC Entertainment Holdings Inc (Preferred) (APE)

[Prudent Capitalist]

And, AA and the company will now reportedly have 4.5 Billion preferred APE units to sell to raise cash and further dilute after issuing the 517 Million shares to current common holders.

The company's new move to instead offer preferred equity units is a workaround to that constraint, and frees up a substantial number of units that it could sell as it continues to face challenges due to the continuing Covid-19 pandemic, a person familiar with the matter said.

After offering the 517 million Ape units as a dividend to shareholders, AMC will still have close to 4.5 billion remaining units that could be sold, according to securities filings.