Helios and Matheson Analytics has increased its total ownership of the outstanding shares of MoviePass’ common stock (excluding shares underlying MoviePass options and warrants) to approximately 78 percent. The increase in ownership stems from cash advances provided by HMNY to MoviePass, from time to time, from December 19, 2017 through February 15, 2018.
These cash advances to MoviePass were used to support MoviePass’ working capital and operational requirements, as well as to support the expansion of MoviePass’ business plans and objectives. The total amount advanced by Helios to MoviePass during this period totaled $45,525,000.
HMNY has also announced that, following its previously announced public offering of Series A-1 and Series B-1 Units, as of February 15, 2018, HMNY has 37,889,587 shares of its common stock issued and outstanding.
“Helios’ capital investment has fueled our growth to approximately two million subscribers and enabled us to move closer to our vision of transforming the movie industry,” said MoviePass CEO Mitch Lowe. “Our goal has always been to drive more people to the movies, while reinvigorating the entire ecosystem that includes theaters, studios and distributors. Our relationship with Helios makes that possible.”
“We could not be more thrilled to hold a bigger stake in MoviePass, as the MoviePass phenomenon has become a major disruption to the entertainment industry,” said Ted Farnsworth, CEO of Helios and Matheson Analytics, Inc. “The partnership continues to be a great benefit to both MoviePass and Helios and Matheson shareholders.”
Helios and Matheson Analytics Inc. http://www.hmny.com