AMC Aims To Raise $800 Million
AMC Aims To Raise $800 Million

An SEC filing reveals AMC aims to raise up to $844 million through the sale of 200 million shares to meet cash needs.

Business Insider reports that AMC has burned through the bulk of its cash reserves as virus restrictions and a lack of major releases cut into business.

In October AMC warned it could run out of money by the end of the year.

The upcoming stock sale will likely raise far less than the $844 million target.

On Thursday, AMC stock plummeted 16%.