(Bloomberg) — AMC Entertainment Holdings Inc. fluctuated in premarket trading after the company said it plans to sell up to 11.55 million of its common stock to repay debt and finance future acquisitions.

Its shares briefly dipped after the announcement before resuming gains. AMC was last little changed, up less than 1% to $61 after climbing as much as 24% earlier. Thursday’s filing for the potential sale comes two days after AMC sold 8.5 million shares to Mudrick Capital for $230.5 million. Those shares were then flipped and sold for a profit as the New York-based investment firm told clients AMC’s stock was overvalued.

The company is warning investors that they could lose their entire investment should they buy its shares.

“The market prices and trading volume of our shares of Class A common stock have recently experienced, and may continue to experience, extreme volatility, which could cause purchasers of our Class A common stock to incur substantial losses,” AMC said in its filing.

The filing allows for shares to be sold at-the-market, which is unlike a traditional stock offering because the buyers are found in the open market where retail traders thrive. Stocks sold in traditional offerings are purchased mostly by institutional investors. B. Riley will handle the transaction.

A frenzied rally on AMC shares has pushed shares in the money-losing stock up nearly 3,000% this year and left it with a market capitalization of $31.3 billion, making it more valuable than half of the companies in the S&P 500 Index.

“Issuance creates a dilution risk but can aid deleveraging,” Bloomberg Intelligence analyst Geetha Ranganathan said in a note Thursday.

(Adds details on share filing, updates prices)

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