MoviePass May Be a Separate Public Company on Nasdaq
(Bloomberg) -- MoviePass’s parent company Helios and Matheson Analytics says the board has approved a preliminary plan to spin off MoviePass as a separate public company, and plans to seek to list it on Nasdaq or an alternate trading market.
- Helios would create a new subsidiary named MoviePass Entertainment Holdings
- New company would contain the following four assets: shares of common stock of MoviePass, the membership interests of MoviePass Films, the membership interests of MoviePass Ventures and Moviefone
- Helios acquired control of MoviePass in December 2017
- Helios plans to distribute a minority of the outstanding shares of MoviePass Entertainment common stock as a dividend to stockholders of HMNY if permitted by law
- NOTE: Oct. 18, N.Y. Attorney General Investigating MoviePass Parent Helios
- HMNY Shares down 100% YTD
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