AMC Theatres Seeks to Raise $800 Million in Cash by Selling New Shares Amid Pandemic
thewrap.comfiling with the SEC on Thursday.The nation’s largest theater chain could raise as much as $844 million at an estimated offering price of $4.22 per share, based on a stock price from Monday, but the stock opened at just under $4.00 on Thursday and has proven to be volatile as the pandemic has battered the exhibition industry.The company says it will be limited by “our ability to obtain additional liquidity, which if not realized or insufficient to generate the material amounts of additional liquidity that will be required until we are able to achieve more normalized levels of operating revenues, likely would result with us seeking an in-court or out-of-court restructuring of our liabilities.”Back in October, AMC said it would be out of cash.
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