AMC Entertainment Holdings
are scheduled to vote on measures that could drastically change the movie theater’s ability to raise cash selling stock.
The firm will hold a special meeting at noon Eastern time on Tuesday, where shareholders will vote on whether or not to increase the firm’s stock authorization and convert AMC Preferred Equity Units (ticker: APE) into AMC common shares (AMC). It will also vote on a 10-for-1 reverse stock split that would only take place if the APE measure passes. Institutional Shareholder Services, the influence proxy voting firm, has recommended shareholders vote in favor of the measures.