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AMC Entertainment plans to sell up to 15 million shares as 3Q sales fall

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temporarily shut down in mid-March amid the pandemic. The chain has reopened nearly 87 percent of its fleet of about 598 US-based theaters since Labor Day, but has been operating at limited capacity of between 20 percent and 40 percent, the filing said.As a result, the struggling chain has scrambled to keep the lights on, recently raising close to $55 million by selling roughly 15 million shares.AMC currently has cash and cash equivalents of  $417.9 million, according to the filing, which reiterated a recent warning that the company could run out of cash by the end of the year or by early 2021.“As previously disclosed, in the absence of significant increases in attendance from current levels or the availability of significant additional.

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