AMC Entertainment Holdings successfully raised $250 million in new equity capital amid a revived meme stock rally, completing the sale on Monday. The movie theater chain sold 72.5 million shares in an at-the-market offering, launched on March 28, at an average price of $3.45 per share. The news of the stock sale sent AMC shares soaring another 110% in morning trading on Tuesday.

AMC shares opened at $3.52 on Monday, up approximately 21% from Friday, which likely prompted the company to finalize its equity sale at these elevated prices. As Monday's trading frenzy unfolded, AMC shares more than doubled, peaking at an intraday high of $5.88, before closing the session at $5.19, up over 78%.

The resurgence of the meme stock craze was sparked by the return of Keith Gill, known as "Roaring Kitty," who gained fame during the 2021 meme stock mania. Gill's cryptic online posts reignited interest among amateur traders, leading to significant buying activity in stocks like AMC and GameStop. GameStop shares surged 74% on Monday and continued to soar over 100% early Tuesday, experiencing multiple trading halts due to volatility.

Citigroup, Barclays, B. Riley Securities, and Goldman Sachs acted as sales agents for AMC's equity offering. The completion of the stock sale provided AMC with a substantial capital infusion, bolstering its financial position as it navigates the post-pandemic landscape.

AMC's CEO, Adam Aron, has been leveraging the meme stock phenomenon to raise capital and stabilize the company's finances. Since the beginning of the year, AMC has undertaken several stock offerings to reduce debt and invest in growth opportunities. The latest capital raise is part of this ongoing strategy to strengthen the company's balance sheet and ensure long-term viability.