AMC's Hycroft Raises $195M In Just Two Weeks And Adam Aron Can't Stop Boasting About It

Zinger Key Points
  • Two weeks after AMC purchased a stake in Hycroft Mining, the company has raised a total of $195 million. 
  • Leading gold and silver investor Eric Sprott has also taken a large stake in Hycroft.

Last week, movie theater chain AMC Entertainment Holdings Inc AMC purchased a major stake in Hycroft Mining Holding Corp HYMC

AMC spent $27.9 million in cash for the deal and received roughly 23.4 million shares in the company. 

Now, two weeks following the deal, AMC’s Hycroft mining company has raised a total of $195 million. 

One of the world’s leading gold and silver investors, Eric Sprott has taken a large stake in Hycroft. Together, AMC and Sprott invested $56 million in Hycroft. 

On Friday, AMC CEO Adam Aron announced in a tweet that $139 million had been raised in additional equity. On the same day, the stock soared almost 22% after hours when the announcement was made.

Replying to Aron’s tweet, a follower @NorcalSlider said, “Holy sh*t, that’s huge”. 

Aron quickly responded to Norcal’s tweet talking about the skepticism about AMC’s investment in HYMC. 

Photo: Paul Sableman on flickr

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