Vietnam’s Trade Surplus With US Jumps as Exports Surge and China Imports Hit Record 
Gold and Silver Prices Rebound After Volatile Week Triggered by Fed Nomination 
Gold Prices Slide Below $5,000 as Strong Dollar and Central Bank Outlook Weigh on Metals 
U.S. Stock Futures Slide as Tech Rout Deepens on Amazon Capex Shock 
RBI Holds Repo Rate at 5.25% as India’s Growth Outlook Strengthens After U.S. Trade Deal 
South Korea Assures U.S. on Trade Deal Commitments Amid Tariff Concerns 
Trump’s Inflation Claims Clash With Voters’ Cost-of-Living Reality 
Asian Stocks Slip as Tech Rout Deepens, Japan Steadies Ahead of Election 
Missouri Judge Dismisses Lawsuit Challenging Starbucks’ Diversity and Inclusion Policies 
Once Upon a Farm Raises Nearly $198 Million in IPO, Valued at Over $724 Million 
Global Markets Slide as AI, Crypto, and Precious Metals Face Heightened Volatility 
SoftBank Shares Slide After Arm Earnings Miss Fuels Tech Stock Sell-Off 
Weight-Loss Drug Ads Take Over the Super Bowl as Pharma Embraces Direct-to-Consumer Marketing 
China Extends Gold Buying Streak as Reserves Surge Despite Volatile Prices 
Russian Stocks End Mixed as MOEX Index Closes Flat Amid Commodity Strength 
Toyota’s Surprise CEO Change Signals Strategic Shift Amid Global Auto Turmoil 
Alphabet’s Massive AI Spending Surge Signals Confidence in Google’s Growth Engine 
AMC Theatres is selling up to 425 million APE preferred shares to raise money and pay its debts. APE is a new type of preferred equity unit that was issued by AMC Entertainment last month, and its trading commenced on Aug. 22.
AMC revealed on Aug. 4 that it would pay dividends to all common stockholders in preferred stock. The cinema chain applied to list this preferred entity on the New York Stock Exchange (NYSE) under the symbol “APE”, which the retail investors who helped bail out the company from bankruptcy last year agreed on.
According to The Hollywood Reporter, after the company announced its AMC Preferred Equity units to investors, it reached an agreement with Citigroup Global to start selling the APE. The company made a distribution deal to sell its new preferred share class after they were given out as dividends to shareholders.
In a filing at the Securities and Exchange Commission on Monday, Sept. 26, AMC stated that it has a deal with Citigroup Global, which is to serve as its sales agent for APE. The company said the banking and financial services firm may offer and sell 425 million of the theater chain’s preferred equity units.
“You could lose all or part of your investment,” AMC stated in the disclosure document that describes a financial security for potential buyers. “The risks and uncertainties discussed in this prospectus or in any document incorporated by reference into this prospectus are not the only risks and uncertainties that we face, and additional risks and uncertainties not presently known to us or that we currently deem immaterial may also affect our business, results of operations or financial condition.”
Meanwhile, The Wrap previously reported that the stock price of AMC Theatres plummeted by 40% as it prepares to launch its new APE trading units in August. Even if the company said that it would help lessen AMC’s huge debt load, the share price dipped at that time, and this may be due to the fears of stock dilution. It was also pointed out that the drop came as Cineworld confirmed it is considering a bankruptcy filing in the United States and other regions to contain its debt issues sparked by the COVID-19 pandemic.
