iPic® Entertainment Announces Closing of its Initial Public Offering
IPIC ENTERTAINMENT INC A (IPIC)
US:NASDAQ Investor Relations:
globenewswire.com/news-release/2018/02/01/1330161/0/en/ipic-entertainment-announces-closing-of-its-initial-public-offering.html
Company Research
Source: GlobeNewswire
BOCA RATON, Fla., Feb. 01, 2018 (GLOBE NEWSWIRE) -- iPic® Entertainment Inc. (NASDAQ:IPIC) (“iPic” or the “Company”) today announced that it has closed its initial public offering of 818,429 shares of Class A Common Stock at a public offering price of $18.50 per share for gross proceeds of $15.1 million. iPic® expects the stock to begin trading on the Nasdaq Global Market under the ticker symbol “IPIC” today, February 1, 2018. Separately, the Company closed a private placement of $2.5 million from an affiliate of one of its existing investors, Regal Cinemas, which had previously invested $12 million at a price of $18.13 per share in April 2017. Additionally, PVR Cinemas, the largest exhibitor in India invested $4 million at the same price of $18.13 per share in December 2017. “We are pleased to now have loyal guests and members of iPic, members of the investment community and leading industry exhibitors as stockholders of iPic Entertainment,” said Hamid Hashemi, founder and C
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