KANSAS CITY, Mo. — AMC Theatres announced a massive number of new investments in the company, hopefully securing its future as movie theaters are hit hard by the COVID-19 pandemic.
The company announced that since mid-December, it received $917 million in "new equity and debt capital." A good portion came from issuing and selling new shares in the company.
AMC is hopeful the new investment will help the company survive the pandemic.
Decreased theater capacity and some theater closures made the company unsure it would survive 2020.
"...We are proud to announce today that over the past six weeks AMC has raised an additional $917 million capital infusion to bolster and solidify our liquidity and financial position. This means that any talk of an imminent bankruptcy for AMC is completely off the table," AMC Ceo and President Adam Aron said in a release.
The company said the new capital should get them through most of 2021.
AMC also said that it is hopeful the rollout of the COVID-19 vaccine will bring moviegoers back to theaters.