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AMC’s Stock Jumps After Theater Chain Scraps Plan to Issue More Shares

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thewrap.com
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filing with the Securities and Exchange Commission, said it had withdrawn its proposal to have shareholders approve another 25 million shares during an upcoming shareholder meeting.

CEO Adam Aron also mentioned the decision on Twitter, saying he personally felt it was “no secret” AMC should issue more shares, but that the company wouldn’t move forward with the proposal.

Aron added the company wouldn’t vote on issuing more shares for the rest of 2021. Of course, voting on the other 4 issues requiring approval at the July 29 annual AMC shareholder meeting will continue on schedule.

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