AMC Entertainment Holdings (AMC) announced on Monday, August 14th, 2023 that it will reverse split its common shares and its preferred shares (APE) will be converted to common stock. Additionally, following the reverse split, the company will make a settlement payment of one share of Class A common stock for every 7.5 Class A shares to the entitled shareholders.
When will the reverse split occur?
According to the press release, AMC Holdings will reverse split its Class A shares (AMC) at a 1 for 10 ratio on August 24, 2023. This date also sets the record date for shareholders entitled to the settlement payment. You can find more information on reverse splits, and other types of corporate actions here.
When will APE be converted to AMC?
The anticipated last day of trading for APE is August 24th. On August 25th, APE will be delisted from the New York Stock Exchange, no longer trade, and will be converted into Class A common stock (AMC). As per the reverse split, every 100 shares of APE will be converted into 10 shares of AMC.
When will I receive the settlement payment?
On, or promptly after August 28th, shareholders of record as of August 24th will receive the settlement payment of one share of AMC for every 7.5 shares held.
Does Public charge a fee to process this event?
No. Public does not charge a fee to process this mandatory corporate action.
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