iPic Announces Pricing for IPO

By Chris Lange Updated Jan 12, 5:05AM EST · Published Dec 27, 10:55AM EST

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iPic Announces Pricing for IPO — © Thinkstock

iPic Entertainment has filed an 1-A form with the U.S. Securities and Exchange Commission (SEC) regarding its initial public offering (IPO). The company will price its 2.165 million shares at $18.50 per share. At this price, the offering is valued up to $40 million. The company intends to list its shares on the Nasdaq under the symbol IPIC.

The underwriters for the offering are Tripoint Global Equities, Roth Capital Partners and Telsey Advisory Group.

This company was established in 2006 and headquartered in Boca Raton, Florida. iPic Entertainment represents America’s premier luxury restaurant-and-theater brand. A pioneer of the dine-in theater concept, the company’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.

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Hamid Hashemi, CEO and founder, commented:

This is an exciting milestone for iPic and we are honored to have applied to list on the Nasdaq Stock Market, as we take the next step in becoming a publicly-traded company. iPic delivers a world-class hospitality experience, and this listing will provide great visibility for the Company amongst potential stockholders and will allow our 1.8 million members, loyal guests, as well as the general public, to be able to play a direct role in our continued growth.

The company intends to use the net proceeds from this offering for general corporate purposes, including opening new iPic locations and renovating existing ones.

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About the Author Chris Lange →

Chris Lange is a writer for 24/7 Wall St., based in Houston. He has covered financial markets over the past decade with an emphasis on healthcare, tech, and IPOs. During this time, he has published thousands of articles with insightful analysis across these complex fields. Currently, Lange's focus is on military and geopolitical topics.

Lange's work has been quoted or mentioned in Forbes, The New York Times, Business Insider, USA Today, MSN, Yahoo, The Verge, Vice, The Intelligencer, Quartz, Nasdaq, The Motley Fool, Fox Business, International Business Times, The Street, Seeking Alpha, Barron’s, Benzinga, and many other major publications.

A graduate of Southwestern University in Georgetown, Texas, Lange majored in business with a particular focus on investments. He has previous experience in the banking industry and startups.