Shares of AMC Entertainment Holdings Inc surged higher by 35% Monday morning after the movie theater company said it has successfully raised nearly $1 billion in fresh capital since December.

What Happened: AMC said in a press release it raised or signed commitment letters to receive $917 million of new equity and debt capital. The capital infusion will allow the company to “make it through this dark coronavirus-impacted winter.”

AMC’s belief it has enough capital to operate through “deep into 2021” is also based on the assumption it will make progress in talks with theater landlords about the amounts and timing of lease payments, the company said. In addition, the company is assuming that a successful vaccination initiative against the novel coronavirus will act as a catalyst for theater attendance…CLICK for complete article