AMC Entertainment Holdings Inc (AMC)

[Prudent Capitalist]

fung: Adam Aaron tried to capitalize on the inflated share price for AMC back in 2021 when it had been manipulated up to ridiculous levels and was still trading in the $40-$50 range. He sought authorization to issue more common shares to raise capital and pay down debt, and would have been able to retire much, if not all, of AMC's massive debt load with relatively little dilution had AMC been able to get more common share authorization to sell shares at those ridiculously inflated levels to raise capital and pay off debt. But the APES fought it all the way and the authorization could not be obtained at that time. So, AA did the workaround with the preferred APE issuance last year, and that hasn't worked well to sell APE shares to pay off debt as the share price on the APES has been so low. So, now there is workaround 2 in process. All because the APES stupidly opposed the issuance of more common shares at a time when a ton of $$$$$$ could have been raised selling more common shares up in those inflated ranges. Most of the APES who rose up against that are long gone now but overall the APES have no one but themselves to blame for the current tough predicament.