AMC Theatres announces a bold plan to create a new class of securities, issuing AMC Preferred Equity units to all shareholders.
The announcement came on Thursday, August 4th, via an open letter to all shareholders of AMC. The name AMC Preferred Equity, or APE for short, is a signature nod to a large group of socially-active retail owners who have rallied around the AMC stock and brand. AMC Preferred Equity units will be listed on the New York Stock Exchange under the APE symbol. The special dividend is scheduled to process later this month, but no exact date has been set as of yet.
These Preferred Equity units will be issued on a one-to-one basis - which means if you own 1 share of AMC common stock you will get 1 share of APE, and if you own 100 shares of AMC stock, you will get 100 shares of APE.
"For so many reasons, including what we can do with it in the future, the introduction of AMC Preferred Equity units has the potential to immensely strengthen our company. Looking long term, we believe this move is not good news for those who root against us." - Adam Aron, CEO of AMC Theatres
To top it all off, AMC is offering a free “I OWN APE” NFT to all members of AMC Investor Connect. Please note, that in order to qualify for the "I OWN APE" NFT, you will need to be a member of AMC Investor Connect by August 31st.
It doesn't end there either! Let's say you are late to the game when it comes to owning AMC and being a member of Investor Connect, if you join by by August 31, 2022 also will be entitled to receive a free updated version of the “I OWN AMC” NFT. This is an NFT that was issued back in January 2022 to all AMC Investor Connect members.
At the end of the day, it is possible for people to receive up to 2 NFTs and a special Stock Dividend, just by owning 1 share of AMC common stock.
I must disclose that I am a shareholder of AMC common stock. However, I also must say I have been an AMC shareholder since well before the meme stock craze. With all that said, I highly recommend scooping up at least one share of AMC and then signing up for AMC Investor Connect here.
See ya!
Resources
https://investor.amctheatres.com/stock-information/APE-Dividend-Info/
https://www.marketwatch.com/story/amc-takes-aim-at-massive-debt-burden-with-ape-special-dividend-11659710032
https://www.cnbc.com/2022/08/04/amc-to-issue-preferred-stock-under-the-ticker-symbol-ape.html