AMC Entertainment Holdings Inc. raised about $325.5 million through the sale of 40 million shares, which it said would address a cash shortage as the movie theater industry recovers.

In the offering, which began Sept. 6, shares sold at an average price of $8.14 apiece. The loss-making company is struggling with weak box office receipts after a pandemic devastated its industry.

The stock sale was unpopular with AMC investors because of the dilutive effect, and the stock has fallen nearly 80% this year. But now AMC is in a better position to capitalize on the industry’s recovery. The company expects to get a special boost from the screening of Taylor Swift’s concert movie in October.

The stock sale will also help AMC weather ongoing strikes in Hollywood by writers and actors, the Leawood, Kansas-based company said.