AMC Entertainment Holdings Inc. on Tuesday won shareholders’ backing to sell new common stock, a financial lifeline for the movie-theater chain as it continues to lose money because of low cinema attendance.
Shareholders voted to increase the number of common shares that AMC can sell, an important tool for the company to stay afloat and potentially weather a downturn in the cinema industry that has pushed some competitors into bankruptcy.
Source: https://www.wsj.com/articles/amc-secures-shareholder-approval-to-sell-more-stock-5d96733?siteid=yhoof2&yptr=yahoo