AMC Company (AMC) shares are falling. Once again, this is due to investor concerns about dilution of their stock.

On Thursday, the cinema chain filed for a stock offering of up to $350 million.

AMC said in a statement that the funds will be used to “enhance liquidity, repay, refinance, redeem or repurchase existing debt (including expenses, accrued interest and premiums, if any) and for general corporate purposes.”

The company’s stock fell 20% on the news, but then trimmed its losses.

AMC stock had already sold off earlier this year due to investor concerns about share dilution. In September, shares fell about 20% when AMC announced it planned to sell 40 million shares.

In August, a Delaware court approved a merger between AMC and AMC Preferred Stock that resulted in all outstanding shares becoming AMC common stock. At that time, AMC also conducted a reverse stock split at a 10-to-1 ratio. AMC CEO Adam Aron had previously stated that the stock conversion was critical for AMC to have an adequate cash balance in 2024 and 2025.

AMC’s loss of $0.09 per share was less than the $0.20 the Street had expected, and the company had revenue of $1.41 billion.

Aron said during the company’s earnings call that AMC will not disclose the material impact of films starring Beyoncé and Taylor Swift until the fourth-quarter earnings report.