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AMC Entertainment It raised about $250 million in new capital on Monday during the meme stock frenzy revived by the return of “Roaring Kitty.”
On Monday, the cinema operator sold 72.5 million shares in a stock offering. AMC sold those shares at an average price of $3.45 per share before commissions and fees.
AMC shares rose 97% in premarket trading Tuesday after shares were sold off.
The average selling price is at the lower range of runaway trading on Monday as AMC more than doubled to reach an intraday peak of $5.88. The stock closed Monday's session up more than 78% at $5.19. AMC previously announced the show on March 28, but waited until Monday to complete it.
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Roaring Kitty, the man who inspired 2021's stock meme mania, has resurfaced online with a mysterious image showing a man in a chair leaning forward, but that was enough to spark a buying frenzy among amateur traders. GameStop shares rose 74% on Monday with a series of trading halts due to volatility.
Shares of the video game company rose more than 130% in premarket trading Tuesday.
It was Citigroup, Barclays, B.C. Riley Securities and Goldman Sachs are sales agents for the AMC stock offerings.
