AMC Entertainment Holdings (AMC) shares soared more than 27% Monday morning after the theater chain filed a revised proposal to convert shares and go public Barbie and Oppenheimer attracted large crowds on the weekend.

AMC announced that two summer blockbusters helped it record its biggest attendance and weekend at theaters since 2019. Additionally, AMC’s food and beverage sales on Saturday reached its second-highest single-day total in history.

The company also filed a revised stock conversion proposal after a Delaware judge on Friday overturned the company’s decision to convert AMC preferred stock ( APE ) to AMC common stock in an effort to raise capital.

On Sunday, CEO Adam Aron wrote an open letter to shareholders warning that raising new capital in the near future “is critical to the company.” He said that without it, AMC risks running out of cash next year or the year after, or may not be able to satisfactorily refinance and stretch its debt.

After the losses incurred during the COVID-19 pandemic, Aron said he was driven by one overarching goal to keep AMC from “financial collapse.” He suggested that the only way to do this is to bring in more money. Now is a critical juncture where actor and writer strikes could delay the release of new films in 2024 and 2025, he added.

While a large majority of investors voted in favor of the stock conversion proposal in March, several thousand filed a lawsuit to block it, fearing further deception of AMC shares. An agreement was worked out between the parties, but Delaware Court of Chancery Vice Chancellor Morgan Zurn rejected it.

Aron noted that the company and the plaintiffs have entered into an “amendment of the legal statement regarding the Delaware litigation settlement in an effort to address the concerns expressed by the Court.”