Investing.com — AMC Leisure Holdings Inc (NYSE:) shares jumped 30% on Monday after the corporate mentioned it raised $917 million in money since December, sufficient to stave of a chapter for now.
The biggest movie show operator has been reeling from pandemic-related closures and restrictions. Shares are down 32% within the final 12 months. On Monday, Goldman Sachs (NYSE:) analysts mentioned U.S. fell 82% final 12 months, to $2.1 billion, and many of the gross sales got here within the first quarter.
AMC’s CEO Adam Aron mentioned in an announcement on the corporate’s web site that “at the moment, the solar is shining on AMC.” The fundraising, together with a $400 million mortgage for its Europe operations introduced Monday and a mix of debt and fairness gross sales, comes after AMC raised $1 billion from April to November final 12 months. Aron mentioned “any discuss of an imminent chapter for AMC is totally off the desk.”
AMC raised the potential for exploring chapter final fall when it revealed it was burning by way of money and will run out early this 12 months. That was earlier than the fundraising spree.
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