The Film Department Holdings Inc., a Los Angeles based movie studio, has made the decision to go public. The studio has released such works as the Jamie Foxx, Gerard Butler vehicle, “Law-Abiding Citizen,” and a number of other films slated for release in 2010.
According to a regulatory filing on Monday, the company will offer 7.1 of 10.4 million common shares to the public beginning at $12 a share.
The company’s filing with the Securties and Exchange commission reveals is hoping for a Nasdaq listing under the ticket symbol, “TFD.”
$85 million is anticipated from the initial public offering. The company, which was founded in 2007 has a total debt of $62.3. It’s net revenue from January until September was $13 million with $14.2 million in losses.
Founders are Mark Gill and Neill Sacker who’s accomplishments include Crash, The Talented Ms. Ripley, The Illusionist and Under the Tuscan Sun. The Film Department has 20 films slated for release over the next five years.
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