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Benzinga
Benzinga
Business
Melanie Schaffer

AMC Entertainment Consolidates APE Equity Distribution Agreement: Here's What To Watch

AMC Ape Entertainment NYSE

AMC Entertainment Holdings, Inc (NYSE:AMC) was trading about 8% higher Tuesday after a massively bearish day on Monday caused the stock to plunge about 15%.

The company announced a plan to sell up to 425 million AMC Preferred Equity Units (NYSE:APE), which pressured both AMC and APE lower. Through the equity distribution agreement, AMC may repay, refinance, redeem or repurchase debt it has incurred in order to meet its financial goals.

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