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  • Premier Exhibitions, Inc. (NASDAQ: PRXI) $54M (MarketCap) +9%  0 comments
    Jun 25, 2010 2:19 PM | about stocks: PRXI

    Premier Exhibitions, Inc. (NASDAQ: PRXI) is currently trading at $1.16, up $.10 or 9.43%. This company develops and tours museum quality exhibitions throughout the world. The exhibitions contain authentic artifacts presented in museums, exhibition center, and non-traditional venues using compelling stories. Presently, the company operates and/or presents and promotes 3 different types of exhibitions:

    • "Titanic: The Artifact Exhibition," and "Titanic Aquatic;"
    • "Bodies...The Exhibition," and "Bodies Revealed;"
    • "Dialog in the Dark."
       

    To date, the Titanic: The Artifact Exhibition has attracted more than 18 million visitors and continues to break attendance records. Allowing recovered artifacts to tell the story, this exhibition follows the chronological journey of the Titanic. The story leads the visitor from the construction yards in Belfast, Northern Ireland where the Ship was conceived and built, to the gangway of the giant Ship as it sets sail on the fateful, maiden voyage. During 7 research and recovery exhibitions, more than 5,500 artifacts have been recovered. The 100th anniversary of the sinking in 2010 is expected to draw even higher numbers.

    The “Bodies…The Exhibition and Bodies Revealed” exhibitions are the newest additions to Premier’s portfolio. They employ polymer preserved, real human specimens to provide a firsthand look into the human body, its systems and functions. Each specimen conveys insight into anatomy, skeletal structure, or tissue in a way that inspires many to take better care of their health. To date, these exhibitions have already attracted more than 3.5 million visitors.

     

     
    In February 2008, Premier Exhibitions released its exhibit, “Dialog in the Dark”. Visitors are led by blind or visually impaired guides through a specially constructed and totally darkened Exhibition, in which sounds, wind, temperatures, and textures covey the characteristics of common daily environments such as a park or cityscape. In the dark, these environments take on a whole new dimension. Visitors must rely on the guides for security and orientation in this world without pictures. Relying also on their other senses, visitors learn to “see” in an entirely new way. Their experience leads to reflection: social borders are reduced and ignorance gets changed into openness and respect. 
     

    On Tuesday, Premier Exhibitions announced that its largest shareholder, Sellers Capital Master Fund, has begun a search for a single buyer of its 46% equity investment in the company. SCF said it intends to return all capital to its investors over the next 12 to 18 months following redemption requests. SCF also said it will not sell any of Premier's shares in the open market. The fund, facing redemption requests, plans to return all capital to its investors over the next 12 to 18 months, Premier said in a statement. Sellers Capital has also advised Premier that it will not sell any of its shares in the open market.

    "The best course of action to protect both SCF's investors and Premier's shareholders is to implement a 12-18 month lockup and take our time to look for the right buyer for our shares," Mark Sellers, chairman of Premier's board and managing member of the fund said.

     



    Disclosure: no positions
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