IPOS - Movie screen maker Strong Global Entertainment files for IPO

Movie equipment and projection screen maker Strong Global Entertainment has filed to hold an initial public offering. The company, which is being spun out from Ballantyne Strong (BTN), didn’t disclose the size or pricing of the proposed IPO in its filing. It's applied to list its shares on NYSE under the symbol SGE. Think Equity is serving as lead bookrunner. After the offering, Ballantyne will control a majority of the voting power for common shares eligible to vote for Strong Global’s board of directors. For 2021, Strong Global reported a net income of $82K on revenue of $26M. Strong Global is a manufacturer of projection screens and digital equipment for movie theaters. Major clients include IMAX, AMC and Cinemark. The company also provides cinema technical services and has a content creation unit called Strong Studios.  For more IPO news, check out SA’s IPO News page.

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Movie screen maker Strong Global Entertainment files for IPO