AMC Entertainment Holdings Inc. shares AMC, -56.63% soared 36% in premarket trade Monday, after the biggest cinema-chain operator in the world said it has raised $917 million in debt and equity to help it get through a coronavirus-impacted winter. AMC said it has raised $506 million of equity by issuing 164.7 million new shares. That is combined with a previously announced $100 million of additional first-lien debt and the concurrent issuance of 22 million new common shares to convert $100 million of second-lien debt into equity. The company has commitment letters for $411 million of incremental debt capital in place through mid-2023, unless repaid before then, through the upsizing and refinancing of a European revolving credit facility. The company may pay non-cash PIK (payment in kind) interest through the duration of the European debt. "Based on a variety of assumptions, including future attendance levels, the company estimates that its financial runway has been extended deep into 2021," AMC said in a statement. "AMC also is presuming that it will continue to make progress in its ongoing dialogue with theatre landlords about the amounts and timing of owed theatre lease payments." Chief Executive Adam Aron said the new financing means any talk of imminent bankruptcy "is completely off the table." AMC has repeatedly raised capital through the pandemic to bolster its liquidity and stay afloat. Shares have fallen 48% in the last 12 months, while the S&P; 500 SPX, +0.98% has gained 16.6%.