Helios and Matheson Analytics Inc. Announces Confidential Submission of S-1 Registration Statement for Proposed Spin-off of MoviePass Entertainment Holdings Inc.finance.yahoo.com • about 5 years ago---
- Helios and Matheson Analytics Inc. (HMNY) (“HMNY”) today announced that MoviePass
Entertainment Holdings Inc. (“MoviePass Entertainment”), a newly formed wholly-owned
subsidiary of HMNY that would take ownership of the shares of MoviePass Inc. and
other film related assets held by HMNY, has confidentially submitted a draft registration
statement on Form S-1 to the U.S. Securities and Exchange Commission (the “SEC”)
relating to the proposed distribution by HMNY of a minority of the shares of MoviePass
Entertainment common stock held by HMNY as a dividend to stockholders of HMNY as
of a record date that is yet to be determined.
- HMNY plans to retain control of MoviePass Entertainment upon any such distribution.
- Holders of certain warrants of HMNY as of the applicable record date would be entitled
to participate in any such distribution of MoviePass Entertainment shares to the
extent required by the terms of such warrants.
- HMNY has not yet determined the number of shares of MoviePass Entertainment to be
distributed to its stockholders and warrant holders.
- HMNY expects to commence the distribution after the SEC completes its review process
and declares the Form S-1 registration statement effective, and the distribution
is subject to a number of other conditions, including the approved listing of shares
of MoviePass Entertainment on Nasdaq or an alternate trading market and HMNY being
permitted to distribute MoviePass Entertainment shares under Delaware law, of which
there is no assurance.