Silver Lake Scores $113 Million on AMC Stake Amid Reddit Rally

Silver Lake Management exited its equity stake in AMC Entertainment Holdings Inc., generating around $113 million after converting bonds to equity and selling the shares as the movie theater chain’s stock rallied.

The private equity firm converted $600 million of 2.95% bonds to equity at a price of $13.51 a share, according to a regulatory filing Friday. It then sold the 44.4 million shares for an average price of $16.05 during a Reddit-fueled rally in the company’s stock, according to calculations by Bloomberg. The gains disclosed Friday don’t include any possible offsets from hedging.

A representative for Silver Lake ...