$AMC Entertainment(AMC)$AMC shareholders had voted against the company’s proposal to issue more common stock last year, and the APE preferred stock sale isviewed as a workaroundfor obstinate shareholders.

After flooding the market with 517 million APE units, AMC still has around 4.5 billion shares left that it could sell to raise additional funds. Though at this point, the cupboard is starting to look a little bare.

AMC most recently reported nearly$1.2 billion in revenuefor the second quarter ending June 30, which was a huge improvement from the company’s pandemic lows. While the company posted a Q2 net loss of $121.6 million, its fortunes appear to be improving.