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MoviePass Parent Files To Raise $1.2 Billion To Stay Afloat (variety.com)

Posted by BeauHD on from the rough-waters dept.

An anonymous reader quotes a report from Variety: Helios and Matheson Analytics, the struggling parent company of MoviePass, filed a registration statement with the SEC to raise up to $1.2 billion in equity and debt securities over the next three years. The funding is intended to support the cash-burning operations of MoviePass, as well as the MoviePass Ventures movie investment subsidiary, MoviePass Films and Moviefone, which Helios and Matheson recently acquired from Verizon's Oath.

Of course, whether Helios and Matheson can actually persuade investors to keep pouring money into the venture is unknown. The announcement comes after Helios and Matheson, the New York-based data and analytics company that bought MoviePass in 2017, last month announced a $164 million bond sale to provide working capital for MoviePass.

6 of 35 comments (clear)

  1. Investors? by DogDude · · Score: 5, Insightful

    What the hell are these investors investing in? This is a company that sells $10 bills for $5. This is one of the stupidest business models I think I've ever seen (and I'm kinda' old).

    --
    I don't respond to AC's.
    1. Re:Investors? by ShanghaiBill · · Score: 2

      at least one of their C*O's going to end up in jail.

      Why? It is not illegal to take money from foolish investors. If it was, most the financial industry would collapse.

    2. Re: Investors? by ShanghaiBill · · Score: 2

      I just don't see how we can base our entire economy on companies displaying ads and selling data to each other. At the bottom of the pile, doesn't someone need to actually make something for everyone else to market and sell?

  2. How did it hit $32?? by Anonymous Coward · · Score: 3, Interesting

    Something is very strange about their stock that it randomly goes from about $2/share to $32 a share from Sep 12 to Oct 11 2017 (https://finance.yahoo.com/quote/HMNY). Then it's proceeded to decline since this suspicious bubble up. What drove it up in the first place??

  3. Well, at least by Bruce+Perens · · Score: 2

    These investors are smarter than the ones who shorted Tesla. That's all I can say :-)

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    Bruce Perens.
  4. Comment removed by account_deleted · · Score: 2

    Comment removed based on user account deletion