Strong Global Entertainment, Inc.
We believe Strong Global Entertainment is positioned to be a leader in the entertainment industry, as Ballantyne has provided mission critical products and services to cinema exhibitors and entertainment venues for over 80 years. (Incorporated in British Columbia) (**Note: After the IPO, our parent, FG Holdings, formerly known as Ballantyne Strong, will control a majority of the voting power of our common shares eligible to vote in the election of our directors.)
We believe that we have cultivated a leadership position built on our exceptional reputation for quality and service in the industry. We manufacture and distribute premium large format projection screens, provide comprehensive managed services, technical support and related products and services primarily to cinema exhibitors, theme parks, educational institutions, and similar venues.
As a manufacturer and distributor of projection screens systems, we have contractual relationships to supply projection screens to major cinema exhibitors, including IMAX Corporation (“IMAX”), AMC Entertainment Holdings (“AMC”), and Cinemark Holdings, Inc. (“Cinemark”), and other cinema operators worldwide. In addition to traditional projection screens, we also manufacture and distribute our Eclipse curvilinear screens, which are specially designed for theme parks, immersive exhibitions, as well as simulation applications.
We also provide maintenance, repair, installation, network support services and other services to cinema operators, primarily in the United States. Many of our customers choose annual managed service arrangements for maintenance and repair services. We also provide maintenance services to customers on a time and materials basis. Our field service and Network Operations Center (“NOC”) staff work hand in hand to monitor and resolve system and other issues for our customers. Our NOC, staffed by software engineers and systems technicians, operates 24/7/365 and monitors our customers’ networked equipment remotely, often providing proactive solutions to systems’ issues before they cause system failures.
We recently launched Strong Studios, Inc., (“Strong Studios”) a Delaware corporation and a wholly owned subsidiary of Strong Technical Services, Inc. (“STS”). The goal in launching Strong Studios is to expand our Entertainment Business to include content creation and production of feature films and series. The launch of Strong Studios is intended to further diversify our revenue streams and increase our addressable markets, while leveraging and expanding our existing relationships in the industry.
**Note: Revenue and net income figures are for the 12 months ended June 30, 2022.
(Note: Strong Global Entertainment priced its micro-cap IPO at $4.00 – $1.00 below its assumed IPO price of $5.00 – on 1.0 million shares – the number of shares in the prospectus – on Monday night, May 15, 2023 – to raise $4.0 million. Background: Strong Global Entertainment cut its IPO’s size for the third time in an S-1/A filing dated May 11, 2023: The IPO was downsized to 1.0 million Class A ordinary shares – down from 1.6 million shares – and the assumed IPO price was kept at $5.00 – to raise $5.0 million. Background: The IPO’s size was previously cut on April 10, 2023, to 1.6 million shares, down from 2.0 million shares, and the IPO price stayed at $5.00. In an S-1/A filing dated Nov. 23, 2022, the IPO’s size was cut for the first time – to 2.0 million shares – down from 3.0 million shares originally – and the price was kept at $5.00. Strong Global Entertainment filed an S-1/A dated Aug. 26, 2022, in which it disclosed its initial IPO terms – 3.0 million shares at $5.00 to raise $15.0 million. Strong Global Entertainment filed its S-1 on April 7, 2022.)
|Industry:||Photographic Equipment & Supplies|
|Address||4201 Congress Street, Suite 175 Charlotte, NC 28209|
|Phone Number||(704) 471-6784|
|View Prospectus:||Strong Global Entertainment, Inc.|
|Revenues||$34.13 mil (last 12 months)|
|Net Income||$0.76 mil (last 12 months)|
|Exchange||NYSE - American|
|Price range||$4.00 - $4.00|
|Est. $ Volume||$4.0 mil|
|Manager / Joint Managers||ThinkEquity|
|Expected To Trade:||5/16/2023|
|Quiet Period Expiration Date:||Available only to Subscribers|
|Lock-Up Period Expiration Date:||Available only to Subscribers|
|SCOOP Rating||Available only to Subscribers|
|Rating Change||Available only to Subscribers|