#Ipic stock price movie

Members help make our journalism possible. Roth Capital Partners was the institutional book-running agent, and Telsey Advisory Group was the offerings co-manager. TriPoint Global Equities through its online division Banq was the lead selling agent for the IPO. The company has four locations under construction and 16 in its pipeline. IPic says it plans to use the funds to help fuel its expansion. The Retirement Systems of Alabama has also provided equity and debt to the company.

#Ipic stock price movie

The company has received a number of investments from movie or theater related companies, including Village Roadshow and PVR Cinemas, the largest exhibitor in India. Time is something we don’t have enough of.” “We create a destination that combines the two activities. “We’re giving you back 30 minutes of your time,” he said, noting that 78% of people eat before or after a movie. We’ll do all those things if the experience is better than you can get at home.”īut Hashemi also considers his concept to be as much a time-saver as anything.

“It doesn’t matter what business you’re in today, the reality is we can all do great things at home-shopping at home, working at home, watching movies at home,” Hashemi said. Movie theater box office receipts, meanwhile, declined by 20% this past summer. Restaurant traffic, especially at dine-in focused casual-dining chains, has been weak for the past two years. “We’re turning these auditoriums into performing theaters,” he said.īoth restaurant chains and movie theaters have struggled in recent years with a consumer that is as reluctant as ever to leave the house. This year, the company has 300 such events booked. “We sold out every single show we put on.” Last year, the company began booking live shows and VIP events inside of its theaters, including comedy shows, magic shows and gaming events. The rest comes from special events and partnerships. Less than a third of its sales come from box office receipts. More than half of the $69.4 million in revenues the company generated in the first half of 2017 came from the sale of food and beverage. The company operates 16 locations, 10 of which operate full-service restaurants in addition to movie theaters. IPic is part of a generation of companies such as Topgolf and Dave & Buster’s, among others, that seek to blend dining and entertainment. IPic is the second restaurant company to close a Regulation A+ IPO, otherwise known as a mini IPO, after Fatburger owner Fat Brands last year.

“Our goal was always to take the company public and turn our members into shareholders of the company,” iPic CEO Hamid Hashemi said in an interview with Restaurant Business. In iPic’s case, that meant the chain’s 1.8 million loyalty club members.

The IPO was done under Regulation A+, a relatively new regulation that enables smaller companies to raise smaller amounts not only from institutional investors but also their own customers. The company said it had planned to sell more than 2 million shares. The offering was considerably smaller than the $40 million that iPic initially said it planned to raise. The Boca Raton, Fla.-based company also said that it closed a $2.5 million private placement from an affiliate of one of its existing investors, Regal Cinemas, which had previously invested $12 million at $18.13 per share.