© Reuters.  MoviePass lands some funding through convertible note offering© Reuters. MoviePass lands some funding through convertible note offering

  • Helios and Matheson Analytics (HMNY +21.2%) announces that it entered into a securities purchase agreement with institutional investors for the company to issue convertible notes in the principal amount of $100M to help fund MoviePass.
  • The notes will be convertible at the option of the holders at a fixed conversion price of $12.06, subject to adjustment.
  • The investors paid for the notes with $5M in cash up front and $95M in investor notes payable to Helios, including equal weekly payments over the next seven weeks.
  • Canaccord Genuity acted as sole placement agent for the financing.
  • Source: Press Release
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