The company entered a securities purchase agreement to sell more than 95 million shares to institutional investors, with the deal expected to close Wednesday. AMC engaged Roth Capital Partners as the placement agent, agreeing to pay a 5.5% cash fee based on the aggregate gross proceeds of the sale.

Management expects the transaction to generate approximately $189 million in net proceeds. These funds are earmarked primarily for debt reduction, with $125.5 million designated to pay down existing liabilities. Despite the sharp premarket drop, the company remains focused on leveraging this capital infusion to improve its balance sheet stability.