AMC Says It Has Completed Share Offering, Raising $587.4 Mn


AMC says it has completed share offering, raising $587.4 mn

New York, June 3 (UrduPoint / Pakistan Point News - 4th Jun, 2021 ) :Retail investor darling AMC said Thursday it had successfully completed a large equity sale, raising $587.4 million amid intense volatility in the movie theater stock.

AMC Entertainment said it completed the stock sale of 11.

55 million shares, with an average price of $50.85.

Shares of AMC began the year valued at around $2 but have soared amid buying from the so-called "Reddit Revolution" of small investors coordinating on social media in support of beaten-down stocks.