AMC ‘APE’ Conversion Gets Shareholder Vote Today. What to Watch.

Shareholders for

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.