AMC Soars as Company Sells $230 Million in Stock to Hedge Fund
AMC Entertainment Holdings Inc.
AMC 22.66%
took advantage of a skyrocketing stock price last week to sell shares to a hedge fund for $230.5 million, it disclosed Tuesday, news that drove its stock higher still.The hedge fund that bought the shares, New York-based Mudrick Capital Management LP, was a winner too. It had paid a premium to Fridays closing price but promptly turned around and sold for a profit, according to a person familiar with the matter, unloading all 8.5 million shares it received…
