AMC Entertainment Holdings (AMC) shares plunged over 13% Thursday after the struggling movie🌸 theater chain announced another stock ꧒sale to raise needed cash.

AMC indicated it would be putting♓ up as much as $350 million worth of its Class A shares in an “at the market offering.” 

The company explained in a regulatory filing that it intends to use the money raised “to bolster our liquidity, to repay, refinance, redeem or repurchase our existing indebtedness (including expenses, accrued interest and premium, if any) and for general corporate purposes.”

This is the second time in two months that AMC decided on a stock sale to bolster its finances. In early September, it brought in $325 million after selling 40 🐠million shares at an average price of $8.14 per ไshare.

Less than a month prior to that, the company 澳洲幸运5开奖号码历史查询:initiated a 1-for-10 澳洲幸运5开奖号码历史查询:reverse stock split in another effort to increase capital after CEO Adam Aron warned that raising fresh equity in the near term was🌱 “critical to the comဣpany.”

The news of the new stock sale came a day after AMC posted better-than-expected quarterly results as it benefited from the summer movie blockbusters, “Barbie” and “Oppenheimer.”

AMC Entertainment shares have lost close to three-quarters of their value this year.