AMC Theatres Entertainment Holdings shares took another sharp kick to the shins after it announced plans to issue new stock.
The embattled movie theatre chain could offload up to 40 million common shares under the equity distribution agreement.
The proceeds from the share sale will provide the business with liquidity and the ability to redeem or refinance some of its debt.
It comes less than a month after the heavily indebted group approved a revised stockholder settlement.
Premarket, the stock was down 14.3% at $11.69.