AMC Entertainment Holdings has raised an additional $917 million to help cushion the blow from the pandemic, and said that that any talk of an imminent bankruptcy is completely off the table .
The company s shares, which have lost nearly half their value in the last 12 months as it was forced to shut theaters during the virus outbreak, jumped as much as 39 percent to $4.88 on Monday. Today, the sun is shining on AMC, CEO Adam Aron said in a statement. This [new financing] means that any talk of an imminent bankruptcy for AMC is completely off the table.
The new funding includes $506 million in equity raised through new stock issues, and $411 million in debt capital through the refinancing of AMC s European credit facilities. The key investors and creditors were not disclosed.
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