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The
company said it would issue 8.5 million shares to Mudrick
Capital, its latest share sale this year it cashes in on a
1,150% jump in its stock in 2021.
The firm said it would use the proceeds to invest in its
existing theaters, which are set to benefit from a recovery in
demand as more states lift COVID restrictions on social
gatherings.
The world's largest cinema chain operator has so far raised
about $1.35 billion through share sales since December 2020.
Sentiment around AMC was also supported by strong weekend box
office collections in North America, led by John Krasinski's
post-apocalyptic thriller "A Quiet Place Part II", one of the
first major theatrical releases since last year.
The Memorial Day holiday is also expected to have boosted ticket
sales as widespread vaccinations bring in more Americans to
theaters.
Meanwhile, U.S.-listed shares of security software provider
BlackBerry also rose 7% premarket, while video game retailer
GameStop Corp was trading 3.3% higher.
AMC and GameStop have been the most bought stocks on brokerage
Robinhood's retail trader-focused app, as well as on that of
UK-based Freetrade, according to recent data.
On trading-focused social media site Stocktwits, nearly 96% of
messages related to AMC featured positive sentiment toward the
stock on Tuesday.
AMC and GameStop have both seen their stocks soar more than 10
times this year, propelled by heavy interest from retail traders
on social media sites like Reddit. During that time, BlackBerry
jumped more than 50%.
(Reporting by Aaron Saldanha and Ambar Warrick in Bengaluru;
Editing by Shounak Dasgupta and Saumyadeb Chakrabarty)
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