Shares of AMC Entertainment Holdings Inc. AMC,
rose 28.2% on very heavy volume Tuesday, after the struggling cinema operator revealed it raised $ 100 million through first-lien, guaranteed notes due 2026. Trading volume rose to 206.3 million shares, enough to the stock most actively traded on the NYSE, and more than six times the full daily average over the past 30 days of approximately 33.4 million shares. The stock is now up 51.0% since closing at a low of $ 1.98 on January 5. AMC said the $ 100 million in notes will bear interest at 15% per year. Interest can be paid in kind at a rate of 17% per annum for the first three interest periods after the issue date. The company can repay up to 35% of the principal of the bonds using proceeds from stock issues on or before January 15, 2023. Despite recent gains, the stock has still lost 15.6% in the past three months and is at 59, 0 dropped. % over the past 12 months, while the S&P 500 SPX,
has increased 14.2% in the past year.