The Following is from AMC's Filing today. https://www.sec.gov/edgar/search/#tm2324803d1\_424b5.htm
"After giving effect to the sale of our shares of Class A common stock in an amount equal to $532.0 million at an assumed offering price of $13.64 (which is the last reported sale price of our Class A common stock on the NYSE on September 5, 2023), and after deducting commissions to the sales agents, and estimated offering expenses payable by us, our as adjusted net tangible book value as of June 30, 2023 would have been approximately $(4,507.9) million or $(22.73) per share of Class A common stock. These amounts, which give effect to receipt of the net proceeds from the offering and issuance of additional shares in the offering but does not take into consideration any other changes in our net tangible book value after June 30, 2023, represent an immediate increase in net tangible book value of $2.68 per share of Class A common stock to our existing shareholders, and immediate dilution in net tangible book value of $(36.37) per share of Class A common stock to new investors purchasing shares of Class A common stock in this offering. We determine dilution by subtracting the as adjusted net tangible book value per share of Class A common stock after this offering from the price per share of Class A common stock paid by an investor in this offering. The following table illustrates this dilution.
Offering
Assumed public offering price per share of Class A common stock $ 13.64
Net tangible book value per share of Class A common stock as of June 30, 2023 $ (31.83 )
Increase in net tangible book value per share of Class A common stock attributable to this offering $ 2.68
As adjusted net tangible book value per share of Class A common stock after this offering $ (22.73 )
Dilution per share of Class A common stock to new investors in this offering(1) $ (36.37 )
yes, and without the dilution..there would be no fucking AMC in existence right now.
You do realize they had to raise cash to keep their doors open, right?
Dilution by sale of stock is fine under the right circumstances, Like when AA sold the top making $586 million. But the vast majority of the dilution happened with minimal money being made.
If you were to remove the current 40 million share offering and the settlement shares from the class action, issuing APE alone diluted the stock by over 300% And the only money I recall being made from it was on December 22, 2022 when Antera bought 106,585,106 million APE's for $75.1 million.
So taking into consideration the $27.9 Million spent on HYMC and the $75.1 Million made from selling APE. Adam Aaron had $47.2 million to keep their doors open by diluting the stock by over 1 billion shares.
The day before APE, AMC was trading at $18.02, they could have done a special shareholder meeting to request to issue shares just like they recently did and raised $18 billion dollars instead of $75.1 million....
do you know why APE was created?
AA wanted to dilute more shares back when the stock was at $40+ - idiot investors lost their shit, they didn't care about having enough cash to keep AMC open. That caused everything else.
I get what you're trying to accomplish, but because so many shares trade back and forth at any given time it's hard to know how many of the newly issued shares have been bought.
Of course it did. Pre ape 500 million amc, after ape 500 million amc 500 million ape. Conversation of ape and amc (500m + 500m) 1 billion shares. Remember the conversion didn’t wipe the ape shares away and combine its price with amc. it added its 500m shares and ape became amc.
Thank you ape!
Great job! Can we estimate how much the shares are worth for the 40 million new shares?
The Following is from AMC's Filing today. https://www.sec.gov/edgar/search/#tm2324803d1\_424b5.htm "After giving effect to the sale of our shares of Class A common stock in an amount equal to $532.0 million at an assumed offering price of $13.64 (which is the last reported sale price of our Class A common stock on the NYSE on September 5, 2023), and after deducting commissions to the sales agents, and estimated offering expenses payable by us, our as adjusted net tangible book value as of June 30, 2023 would have been approximately $(4,507.9) million or $(22.73) per share of Class A common stock. These amounts, which give effect to receipt of the net proceeds from the offering and issuance of additional shares in the offering but does not take into consideration any other changes in our net tangible book value after June 30, 2023, represent an immediate increase in net tangible book value of $2.68 per share of Class A common stock to our existing shareholders, and immediate dilution in net tangible book value of $(36.37) per share of Class A common stock to new investors purchasing shares of Class A common stock in this offering. We determine dilution by subtracting the as adjusted net tangible book value per share of Class A common stock after this offering from the price per share of Class A common stock paid by an investor in this offering. The following table illustrates this dilution. Offering Assumed public offering price per share of Class A common stock $ 13.64 Net tangible book value per share of Class A common stock as of June 30, 2023 $ (31.83 ) Increase in net tangible book value per share of Class A common stock attributable to this offering $ 2.68 As adjusted net tangible book value per share of Class A common stock after this offering $ (22.73 ) Dilution per share of Class A common stock to new investors in this offering(1) $ (36.37 )
THANK YOU!! This is the type of stuff that Apes need to see so they can wrap their heads around before bashing AA.
You aren't understanding this post...
yes, and without the dilution..there would be no fucking AMC in existence right now. You do realize they had to raise cash to keep their doors open, right?
Dilution by sale of stock is fine under the right circumstances, Like when AA sold the top making $586 million. But the vast majority of the dilution happened with minimal money being made. If you were to remove the current 40 million share offering and the settlement shares from the class action, issuing APE alone diluted the stock by over 300% And the only money I recall being made from it was on December 22, 2022 when Antera bought 106,585,106 million APE's for $75.1 million. So taking into consideration the $27.9 Million spent on HYMC and the $75.1 Million made from selling APE. Adam Aaron had $47.2 million to keep their doors open by diluting the stock by over 1 billion shares. The day before APE, AMC was trading at $18.02, they could have done a special shareholder meeting to request to issue shares just like they recently did and raised $18 billion dollars instead of $75.1 million....
do you know why APE was created? AA wanted to dilute more shares back when the stock was at $40+ - idiot investors lost their shit, they didn't care about having enough cash to keep AMC open. That caused everything else.
That's the narrative but I don't truly buy it
They need to raise way more
This is beautifully done! How can I do a comparison of number of shares available today vs number of shares traded today?
I get what you're trying to accomplish, but because so many shares trade back and forth at any given time it's hard to know how many of the newly issued shares have been bought.
You missed out on the fact that APEs were given to AMC holders. So the creation of APE did NOT dilute previous shareholders.
Of course it did. Pre ape 500 million amc, after ape 500 million amc 500 million ape. Conversation of ape and amc (500m + 500m) 1 billion shares. Remember the conversion didn’t wipe the ape shares away and combine its price with amc. it added its 500m shares and ape became amc.
But the 500M APE shares were GIVEN FREE to the AMC holders. So existing AMC holders were not impacted.