AMC shares fall, while APE units rise as stock-conversion battle reaches Delaware Chancery Court

A key hearing in AMC’s push to convert APE units into common stock started Thursday at Delaware Chancery Court.

AMC Entertainment Holdings Inc.’s stock fell 2.5% Friday, while the company’s AMC Preferred Equity units, known as APEs, rose 2%.

The hearing in the Delaware Chancery Court... AMC Entertainment Holdings Inc.’s stock fell 2.5% Friday, while the company’s AMC Preferred Equity units, known as APEs, rose 2%. In March, AMC shareholders voted in support of the company’s proposal to convert AMC Preferred Equity units into shares of common stock in what the company’s CEO, Adam Aron, described as a “landslide victory.” The move is part of the movie-theater chain and meme-stock darling’s ongoing battle to eliminate debt.

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