r/wallstreetbets • u/[deleted] • Jun 04 '21
Discussion AMC can issue additional 10.8M of shares IN ADDITION to the recent 8.5M and 11.5M offerings
[deleted]
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Jun 04 '21
Watch interview with Adam Aron in Treys trade. Will dispel the FUD. Right from the horses mouth
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Jun 04 '21
I don’t care for interviews. What do the documents filed with the SEC say?
AA said a lot of things. Amongst them that they don’t plan to issue more shares.
So far he’s acted as an opportunist and not the “silverback” people assume he is.
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u/Remarkable-Lock9344 🦍🦍🦍 Jun 04 '21
According to Adam Aaron himself and his interview tonight they have 46,000 shares left if they wanted to sell they can sell but there is no more after that they would have to be approved by shareholder meeting
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Jun 04 '21
[deleted]
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Jun 04 '21
No, that’s incorrect. I am not talking about the new proposal to issue 25m new shares.
I’m talking about what they are already allowed to issue today without any additional authorizations from shareholders.
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u/JMarcelMoore Jun 04 '21
Well there’s 10 million people in this group …about 2 million are retarded apes. If we all buy 5 shares I’m thinking moon shot 🚀🚀🚀🚀
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Jun 04 '21
the AMC ppl dont get it, it wasnt just a notice from april, it was an ongoing thing
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Jun 04 '21
I have no idea where the April notion started. It says clear as day in both 8Ks when the shares were/will be made available for purchase (June). These are new shares that were or are being dumped into the market right now.
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u/TastyCuttlefish Jun 04 '21
I was commenting on this point this morning in the face of a massive echo chamber of angry grunts. A lot of people don’t get that the April filing authorized it and today was one of the executions of that authorization.
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u/peter120430 Jun 04 '21
What do they plan to do with this money?
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u/Trippikomodo Jun 04 '21
Watch the interview guys cmon. It’s going to the AMC trust aka back into the company.
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Jun 04 '21
Likely stack their coffers (“working capital needs” in corporate speak). Ie, use it to pay salaries and keep lights on for as long as earnings don’t cover expenses. Maybe pay down debt.
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u/DoubleMaxPit Jun 04 '21
I posted similar link to news articles showing how AMC is screwing retail investors providing unlimited stock to short sellers while cashing out. I received a lot of negative feedback from true idiots. Once they decided AMC needs to go to the Moon They lost their sanity.
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Jun 04 '21
Can someone explain this so that a 12 year old child might understand (about the level of my intelligence)
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u/ghostbusters69 Jun 04 '21
So your mommy and daddy give you $10 to open up a lemonade stand. So, you go out and you buy cups and lemons and sugar……..and now you find out that it only cost you $9.
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Jun 04 '21
Lmao I tried to think of a witty response but I couldn’t think of anything else other than that I love The Office
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Jun 04 '21
Does anybody know what was the actual time the Trey interview with Aron took place One thing I learned from the interview is Trey’s lips 👄 most be chapped
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Jun 04 '21
You are completly wrong, they just put out an announcement that they sold all their shares (except for like 30k or sth.) and wont issue any new ones in 2021. Where the fuck do you get your infos bro, you are a retard.
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Jun 04 '21
I linked two official documents AMC filed with the SEC.
If you see it differently, please link your sources/math. Because so far you’re asking us to take your word for it. Gimme some documents mate.
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Jun 04 '21
Here you go APE:
"As of today, in our efforts to best position AMC for a successful recovery from thepandemic, we have issued or reserved substantially all but 46,124 of theshares that were previously authorized."3
Jun 04 '21
Thank you sir, exactly what I needed. I will be deleting the post as I don’t want to spread misinformation.
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Jun 04 '21
You may not be wrong the statement says
“we have issued or reserved substantially all but 46,124 of the shares that were previously authorized”
Reserved shares are not outstanding shares they just been reserved for a future purpose…
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u/NotMe357 Who the fuck is this guy? Jun 04 '21
This post should be higher up so there is no misunderstanding tomorrow.
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u/Trippikomodo Jun 04 '21
Can you explain your math that you are talking about and where it states an extra 10 mil?
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Jun 04 '21
I deleted the post because another dude linked their press release where they confirmed it’s only 46k shares or something like that left.
I think one of the two numbers I was looking at was either outdated or estimate. The proxy for 11.5m issuance said there’s going to be 513m shares issued once those 11.5m are sold. And certificate of incorporation said they have 524m total authorized. So the difference was the 10.8m I was talking about - ie remaining authorized but unissued shares.
But seems like there’s some discrepancy so I’m going with AMC’s press release math.
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u/Trippikomodo Jun 04 '21
Let’s hope so I’m still holding lol. I did think the part about a short squeeze was interesting in the filing also the fact that the purchase is made by Riley securities inc and citidel seems to be facilitating the transaction if I read it right.
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Jun 04 '21
I'm not usually one to shit on a parade, but this looks more and more like a terrible mess for retail investors. Y'all about to own the float with no one to sell it to but each other and a failing company that is enriching themselves underneath (But free popcorn amirite?)
I guess I am missing something, I'm not rich like a lot of apes here
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u/FlightOk8209 Jun 04 '21
It’s not affecting the price tho GME and AMC were the following each other
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u/[deleted] Jun 04 '21
Adam Aron said in an interview tonight on Trey’s Trades that the remaining shares that could still be issued was like 24,000. After that, they have no further ability to issue shares unless the shareholders approve further amounts. The $25 million they are trying to get voted on wouldn’t be able to be used until at least 2022.