By Stephen Nakrosis
Shares of Hycroft Mining Holding Corp. and AMC Entertainment Holdings Inc. are trading higher Monday, after The Wall Street Journal reported Hycroft raised cash from selling new shares.
Earlier this month, AMC acquired a 22% stake in the gold mining company.
After the bell Friday, The Wall Street Journal, citing people familiar with the matter, said Hycroft raised about $140 million after launching an at-the-market stock offering on March 15. The sale followed an announcement that AMC and precious-metals investor Eric Sprott had each committed to put $28 million into Hycroft, the report said.
At 11:42 a.m. ET, Hycroft shares were trading 52% higher, at $1.94 each. Volume at the time topped 164 million shares, above the stock’s 65-day average volume of some 27.2 million.
At 11:43 a.m. ET, AMC shares had climbed 26% to trade at $25.50 each. Volume was more than 75.5 million shares at the time, above the stock’s 65-day average volume of some 47.2 million.
Write to Stephen Nakrosis at stephen.nakrosis@wsj.com