UPDATE: iPic Entertainment shares slide 42% after company misses interest payment, gets downgrade [MarketWatch]
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: MarketWatch
UPDATE: iPic Entertainment shares slide 42% after company misses interest payment, gets downgrade Shares of iPic Entertainment Inc. IPIC, -31.19% slid 42% Monday in heavy volume, after the operator of restaurants and connected theaters said it missed an interest payment owed to a pension fund and may file for chapter 11 bankruptcy. Alliance Global Partners downgraded the stock to neutral from buy on the news and said it would be worthless if the company does go bankrupt. Volume of 75,000 shares traded was more than 14 times the stock's 65-day average of just 5,200. iPic, which has casual restaurants, farm-to-glass full-service bars, and theater auditoriums with in-theater dining at 123 screens in 16 theaters in 9 states, said it has $204 million of debt under a credit facility extended by the Teachers' Retirement System of Alabama (RSA). The company missed a $10.1 million interest payment that was due on July 1. "We expect IPIC will need to raise capital at unfavorable terms and as
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