Helios and Matheson Analytics Inc (HMNY)

[Avispa]

Helios and Matheson Analytics up 41% on MoviePass acquisition

Aug. 15, 2017 9:17 AM ET|About: Helios and Matheson Anal... (HMNY)|By: Gaurav Batavia, SA News Editor



•Helios and Matheson Analytics (NASDAQ:HMNY) is up +41.6% premarket on acquiring a majority stake in MoviePass which is led by Netflix co-founder Mitch Lowe.

•MoviePass app has launched $9.95 no-contract monthly movie theater subscription program. "I believe the technology platforms that Helios and Matheson has built over the years are a perfect fit for the MoviePass family," said chairman and CEO Ted Farnsworth.

•The closing of the transaction is conditioned upon HMNY consummating an equity or equity-linked financing transaction with aggregate gross proceeds of at least $10M and other material conditions.

•Following the closing of this transaction, MoviePass will apply for listing and seek to begin trading on the Nasdaq Stock Market or the NYSE by March 31, 2018.