AMC Entertainment on Thursday filed with the SEC to sell up to 200 million shares as the embattled exhibitor seeks to keep its business afloat with the global pandemic dragging on.It could raise $844 million at an estimated offering price of $4.22 per share, based on trading Nov.
30, the filing said. But the stock has been volatile, falling nearly 7% to just over $4 at the market open.The nation’s largest movie chain noted several months ago that it was fast depleting funds and risked running of cash by late this year or early next if it couldn’t raise more.
It has indicated that additional stock sales – it’s done a several already — might be a stopgap as it awaits a hoped for uptick in business and eventual vaccine.Its SEC prospectus for
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