AMC Entertainment Holdings Inc (NYSE:AMC)

Shares of AMC Entertainment Holdings Inc (NYSE:AMC) fell 10% to $4.70 on Friday after the movie theatre chain entered an agreement with Goldman Sachs Group (NYSE:GS) to sell 50 million shares of Class A common stock.

The agreement will enable AMC to issue and sell shares through Goldman Sachs, which will serve as a sales agent or principal buyer.

AMC stated that it plans to use the proceeds from the stock sale to enhance its balance sheet by increasing liquidity and reducing debt.

Additionally, the company aims to invest in its "AMC GO Plan," which focuses on enhancing the movie-going experience through upgrades to seating, sound systems, and premium large format screens.