BOCA RATON, Fla., Jan. 17, 2018 /PRNewswire/ -- iPic® Entertainment Inc. ("iPic" or the "Company"), today announces that the Offering Statement on Form 1-A relating to its $40 million Initial Public Offering has been qualified and investors may now submit firm indications of interest at ipic.com/invest. The Company is offering 2,165,000 shares at $18.50 per share. iPic® has applied to list its common stock on Nasdaq under the ticker symbol "IPIC." All orders must be placed with funds cleared by Monday, January 29, 2018.
TriPoint Global Equities, LLC, working with its online division BANQ® (www.banq.co), will act as the Lead Managing Selling Agent; Roth Capital Partners, LLC will act as the Institutional Placement Book-Running Agent; and Telsey Advisory Group LLC ("TAG") will act as Co-Manager for the offering.
The Company seeks to raise $40 million in its IPO under Regulation A+, and intends to use the proceeds from the offering for general corporate purposes, including opening new iPic® locations and renovating existing iPics.
Individuals interested in investing and learning more about the iPic® Entertainment investment opportunity can place a firm indication of interest by visiting ipic.com/invest. For additional information on iPic® Entertainment Inc., the offering and any other related topics, please review the Form 1-A offering circular that can be found at the following location (http://bit.ly/ipic-oc).
"We are excited to officially begin offering shares of iPic to prospective investors," said Hamid Hashemi, founder and CEO. "This offering will help the Company execute on the significant growth opportunities ahead to open new iPic locations and deliver its world-class hospitality experience to more of its fans around the country."
About iPic® Entertainment
Established in 2006 and headquartered in Boca Raton, FL, iPic® Entertainment is America's premier luxury restaurant-and-theater brand. A pioneer of the dine-in theater concept, iPic® Entertainment's mission is to provide visionary entertainment escapes, presenting high-quality, chef-driven culinary and mixology in architecturally unique destinations that include premium movie theaters and bar/restaurants. iPic® Theaters currently operates 16 locations with 121 screens in Arizona, California, Florida, Illinois, New Jersey, New York, Texas, Washington and Wisconsin and new locations planned for California, Connecticut, Philadelphia, and New York. For more information, visit www.ipic.com.
This press release may include ''forward-looking statements.'' To the extent that the information presented in this press release discusses financial projections, information, or expectations about our business plans, results of operations, products or markets, or otherwise makes statements about future events, such statements are forward-looking. Such forward-looking statements can be identified by the use of words such as ''should,'' ''may,'' ''intends,'' ''anticipates,'' ''believes,'' ''estimates,'' ''projects,'' ''forecasts,'' ''expects,'' ''plans,'' and ''proposes.'' Although we believe that the expectations reflected in these forward-looking statements are based on reasonable assumptions, there are a number of risks and uncertainties that could cause actual results to differ materially from such forward-looking statements. You are urged to carefully review and consider any cautionary statements and other disclosures, including the statements made under the heading "Risk Factors" and elsewhere in the offering statement that we have filed with the SEC. Forward-looking statements speak only as of the date of the document in which they are contained, and iPic® Entertainment does not undertake any duty to update any forward-looking statements except as may be required by law.
The offering will be made only by means of an offering circular. An offering statement on Form 1-A relating to these securities has been filed with the U.S. Securities and Exchange Commission and has become qualified. The securities offered by iPic Entertainment Inc. are highly speculative. Investing in shares of common stock of iPic Entertainment Inc. involves significant risks. The investment is suitable only for persons who can afford to lose their entire investment. Furthermore, investors must understand that such investment could be illiquid for an indefinite period of time. No public market currently exists for the securities, and there can be no assurance that a public market will develop. For additional information on iPic Entertainment Inc., the offering, and any other related topics, please review the qualified Form 1-A offering circular that can be found at the following location: http://bit.ly/ipic-oc. Additional information concerning Risk Factors related to the offering, including those related to the business, government regulations, intellectual property and the offering in general, can be found at the following location: www.banq.co/listings/ipic#documentation and select the Risk Factors tab.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities, in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
Melissa Calandruccio, CFA
The Gab Group for iPic® Entertainment Corporate
Stephanie Jones/Michelle Bower
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SOURCE iPic Entertainment