Many meme investors who own AMC’s common shares opposed the transactions out of concerns that their shares could be diluted
AMC’s proposed transactions would involve a conversion of preferred equity units into common shares.
Photo: frederic j. brown/Agence France-Presse/Getty Images
AMC Entertainment shares soared 70% after-hours Friday after a judge rejected a proposed court settlement that would have cleared the way for the movie-theater giant to complete a set of equity transactions enabling it to issue substantially more shares.
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