From CNBC: 2024-05-14 08:00:26

AMC Entertainment raised $250 million in new equity capital during the meme stock frenzy led by “Roaring Kitty.” They sold 72.5 million shares at an average price of $3.45 before commissions. AMC’s shares doubled in premarket trading, hitting an intraday peak of $5.88. GameStop shares surged 74% on Monday.

“Roaring Kitty” resurfaced online, sparking a buying frenzy among amateur traders. GameStop surged 130% in premarket trading Tuesday. Citigroup, Barclays, B. Riley Securities, and Goldman Sachs were the sales agents for AMC’s equity offering. The mania continues as meme stocks capture traders’ attention.

Read more: AMC raises $250 million in stock sale during meme rally, shares still up 110% in premarket