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No. of Recommendations: 7
I found that the most amusing part of the saga so far is that the holders of the $600MM AMC 2.95% convertible notes due 2026 chose to convert at a price of $13.51 when the price of AMC was at $19.90 But the conversion wasn't immediate - it's taking a few days to settle. So, instead of being up nearly 50%, based on Thursday's closing price of $8.63, they are down 36%

For AMC, it wiped $600MM of debt off of their balance sheet, and will save them $17.7MM/year in interest - possibly staving off bankruptcy for a while longer.

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