AMC Says It Has Completed Share Offering, Raising $587.4 Mn
Mohammad Ali (@ChaudhryMAli88) Published June 04, 2021 | 12:10 AM
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.
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