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MoviePass Parent Files to Raise $1.2B to Stay Afloat
- empath75 8y agoGood luck with that. The interest rate must be unreal.
- smpetrey 8y agoAgreed. They should have just filed for bankruptcy instead.
- Willson50 8y ago$1.2B is around 100x their market cap.
- jonknee 8y agoA tad misleading, they filed to issue up to $1.2B more of their almost worthless stock over the next 3 years. They haven't actually raised any money. Here is the filing: https://www.sec.gov/Archives/edgar/data/1040792/000121390018008569/fs32018_heliosandmatheson.htm https://www.sec.gov/Archives/edgar/data/1040792/000121390018... I'm not savvy enough to give it a full Matt Levine treatment so hopefully he will soon.
- KaoruAoiShiho 8y agoFrom the perspective of a CEO: if you're about to go bankrupt anyway might as well as try a last ditch hail mary. It can't get any worse.
- geoalchimista 8y agoI'm quite baffled by the recent trend that burning money (without a sustainable business model) is considered equivalent to "growth".
- Boxbot 8y agodon’t worry, they’re losing money on every sale but they’ll make it up in volume.