AMC has announced that they will be re-releasing Godzilla vs. Kong (2021) to select theaters this Friday, on August 26th, 2022. More than a year after its original release, the fourth entry in the Monterverse will be shown at more than 500 AMC locations in the United States. This is being done to celebrate the introduction of AMC Preferred Equity units for investors. In fact, AMC Investor Connect members were sent a voucher with two free tickets to the screening. That said, while the film is meant to highlight the introduction of the company’s preferred equity unit, tickets are readily available to the general public at a price of $5 each as noted on their site.
In total, there are currently almost 600 AMC locations across the US. As a result, with “more than 500” screening it, there is a good chance your AMC will be participating in the re-releasing of Godzilla vs. Kong. Check your local AMC, though, to be sure. The showing time for most locations appears to be around 7:00PM local time. The original announcement also opened the door that some theaters might have additional screenings. However, although anecdotal, checking all my nearby AMC theaters each had only one Godzilla vs. Kong showing.
Why Godzilla vs. Kong?
Of all the films AMC could re-release, why Godzilla vs. Kong? Well first off, there is the more overt connection with the naming convention for their AMC Preferred Equity Unit, which represents an interest in their Series A Convertible Participating Preferred Stock. Essentially AMC Preferred Equity abbreviates as APE, which is what the company refers to it as.
As a result, when announcing the re-release timed with the introduction of APE the CEO of AMC posted an image with the following statement: “I prefer apes over lizards” – Adam Aron.
Kong having a relation to apes might be a surface level connection, but is possibly not the only one.
The 2021 movie is also credited with rejuvenating AMC’s stock price last year, when the company was falling on hard times due to the COVID-19 pandemic. In fact, things got dire enough that they were attempting to fight off bankruptcy. Then came the first weekend in April of 2021 when Godzilla vs. Kong opened. For those who recall, the movie made headlines for having a much larger opening weekend than anticipated for a film released at that time during the pandemic. This caused analysts and Wall Street alike to reassess the larger theater chains, with a few of them raising their ratings on AMC from “neutral” to “buy” right after the weekend. This turn of events saw AMC’s stock jump +13% by that Monday. So the film has a reason that it would be seen as important to the company.
APE (AMC Preferred Equity Unit) is a new class of preferred equity units issued by AMC Entertainment. They were first announced by the company back on August 4th. It was listed on the New York Stock Exchange on August 22nd. APE represents an interest in one one-hundredth of a share of the company’s Series A Convertible Participating Preferred Stock. APE holders have the same voting rights as AMC holders.