AMC Theatres Plans to Raise $47.7 Million to Stay Afloat During the Pandemic

variety.com:

Dave McNary Film ReporterEmbattled cinema chain AMC Entertainment Holdings is raising $47.7 million in cash to stay open, according to a Securities and Exchange Commission filing published Monday.Shares of the company were down 3.4% to $2.28 in trading Monday.

The company is set to report quarterly earnings Monday afternoon.The S3 filing, which seeks to sell $20 million shares at a price of $2.39 per share, said the risks include “the impact of the COVID-19 virus on us, the motion picture exhibition industry and the economy in general, ongoing fallout from the COVID-19 pandemic” and “our ability to obtain additional liquidity and our ability to continue as a going concern.”The beleaguered chain warned on Oct.