Movie theater chain AMC announced it raised $587.4 million after making more than 11 million shares available amid a surge of interest from online investors from r/WallStreetBets.
June 3 (UPI) — AMC Entertainment said Thursday that it had raised more than $587.4 million after completing a new stock offering announced earlier in the day. The company said it sold 11.55 million shares at an average price of about $50.85 per share after announcing in a filing Thursday morning that it may sell some of the 11 million shares «from time to time.» «Bringing in an additional $587.4 million of new equity on top of the $658.5 million already raised this quarter results in a total equity raise in the second quarter of $1.
