$AMC Pre Now Down 8%
As of today, in our efforts to best position AMC for a successful recovery from the pandemic, we have issued or reserved substantially all but 46,124 of the shares that were previously authorized. We are requesting that shareholders authorize only an additional 25 million shares and note that these shares cannot be issued in calendar year 2021.
This contrasts with a previous request that shareholders authorize 500 million new shares. We have been listening carefully to the sentiments being expressed by our shareholders, and this more measured proposal is important to give AMC the flexibility to respond to future value creation opportunities for the benefit of AMC and all of its shareholder owners.
AMC CEO Adam Aron