AMC jumps after completing 50 million share offering

After the close on Thursday, a filing from AMC showed that the movie-theater chain has finished the sale of 50 million shares announced in early December, sending shares as much as 5% higher on Friday.

The company raised nearly $184 million through this offering, and may receive additional proceeds in the future, management said. For context, the money raised is more than 10% of its third-quarter sales.

As we suggested after the company tapped the market in May as the meme-stock mania kicked off:

“AMC is in the business of receiving money in exchange for providing access to a very entertaining show. I’m talking, of course, about its financing activities and the stock market — not going to the movies.”

The 50 million shares is a pretty staggering number, considering that before this, AMC had about 381 million shares outstanding, per FactSet.

The stock is still down about 46% from its 2024 peak.

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