- Helios and Matheson Analytics (OTCPK:HMNY) is up +41.6% premarket on acquiring a majority stake in MoviePass which is led by Netflix co-founder Mitch Lowe.
- MoviePass app has launched $9.95 no-contract monthly movie theater subscription program. "I believe the technology platforms that Helios and Matheson has built over the years are a perfect fit for the MoviePass family," said chairman and CEO Ted Farnsworth.
- The closing of the transaction is conditioned upon HMNY consummating an equity or equity-linked financing transaction with aggregate gross proceeds of at least $10M and other material conditions.
- Following the closing of this transaction, MoviePass will apply for listing and seek to begin trading on the Nasdaq Stock Market or the NYSE by March 31, 2018.
- See important disclosures.