Reddit saves AMC Theaters $600 million

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In 2018, Silver Lake, loaned $600 million to AMC. With AMC’s stock surging to nearly $20 per share Wednesday, Silver Lake decided to convert its $600 million bond into AMC stock, giving the firm an instant gain of $284 million. The stock soared because of investors from Reddit’s wallstreetbets new interest in saving the company from short sellers.

Read the full news story at The Hollywood Reporter: https://www.hollywoodreporter.com/news/private-equity-firm-silver-lake-capitalizes-on-amc-theatres-stock-surge.

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