AMC Entertainment Holdings (AMC) shares plunged 36.8% to an all-time low on Wednesday after the movie theater chain operator announced it would sell up to 40 million shares of its Class A common stock.

The company indicated in a filing that it had entered into an equity distribution agreement, and that the sales would be “from time to time” through an “澳洲幸运5官方开奖结果体彩网:at-the-market” offering program. It noted that Citigroup Global Markets, Barclays Capital, B. Riley Securities, and Goldman Sachs would be the sales agents, and they would receive a commission of up to 2.5%.

AMC explained that the money raised would be used to “bolster liquidity, to repay, refinance, redeem or repurchase its existing indebtedness (including expenses, accrued interest and premium, if any) and for general corporate purposes.”

In its 澳洲幸运5官方开奖结果体彩网:prospectus, the company warned investors that purchasing its stock is “highly speculative and involves risk.”

The move came less than a month after AMC 澳洲幸运5官方开奖结果体彩网:received court approval for another plan to boost capital by converting its AMC Preferred Equity (APE) shares into common shares. That allowed the company to move ahead with a 1-for-10 澳洲幸运5官方开奖结果体彩网:reverse stock split, which sent shares cratering.