Strong Global Entertainment, Inc. (SGE) to Raise $8 Million in IPO

Strong Global Entertainment, Inc. (SGE) is planning to raise $8 million in an initial public offering (IPO) on Tuesday, May 16th, IPO Scoop reports. The company will be issuing 1,600,000 shares at $5.00 per share.

In the last twelve months, Strong Global Entertainment, Inc. generated $34.1 million in revenue and $760,000 in net income. The company has a market-cap of $38 million.

ThinkEquity served as the underwriter for the IPO.

Strong Global Entertainment, Inc. provided the following description of their company for its IPO: “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, Ballantyne Strong, Inc., a Delaware corporation, will continue to 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 cut its IPO’s size to 1.6 million Class A ordinary shares – down from 2.0 million shares – and kept the assumed IPO price at $5.00 – to raise $8.0 million, according to an S-1/A filing dated April 10, 2023. Background: Strong Global Entertainment cut the size of its IPO to 2.0 million Class A ordinary shares, down from 3.0 million shares, and kept the price at $5.00 each to raise $10.0 million, in an S-1/A filing dated Nov. 23, 2022. Strong Global Entertainment disclosed its IPO’s terms – 3.0 million Class A ordinary shares at $5.00 each to raise $15.0 million – in an S-1/A filing dated Aug. 26, 2022. Strong Global Entertainment filed its S-1 on April 7, 2022.) “.

Strong Global Entertainment, Inc. was founded in 1932 and has 167 employees. The company is located at 4201 Congress Street, Suite 175 Charlotte, NC 28209 and can be reached via phone at (704) 471-6784 or on the web at http://www.strong-entertainment.com/.