- Dine-in movie theater chain iPic Entertainment (IPIC) files for a $25M regulation A+ IPO on the Nasdaq.
- The company plans to sell 1.35M shares at a price of $18.50.
- Snippets from the filing: "Our newest facilities blend three distinct areas – a polished-casual restaurant, a farm-to-glass full-service bar, and our world-class luxury theater auditoriums with in-theater dining – into a one-of-a-kind experience... We believe that we are still in the very nascent stage of our growth story. We currently operate 121 screens at 16 locations in 10 states with an additional 4 locations under construction and a pipeline of an additional 15 sites that either have a signed lease or are in lease negotiations... We believe that we currently control less than 0.5% market share of the theater business, based on data provided by the National Association of Theatre Owners and our financial results. We believe there is tremendous whitespace opportunity to expand in both existing and new U.S. markets, as well as overseas, and we have invested in our infrastructure through new hires at our home office to enable us to continue to grow rapidly and with discipline."
- The growth of iPic could be of interest to other theater players (AMC, RGC, MCS, HMNY, IMAX, CNK) and might even be a future option for Netflix (NASDAQ:NFLX) original movie screenings.
- SEC Form 1-A
- Now read: Assessing Netflix's Potential Before Earnings
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