3-D Company RealD to Raise $200M in IPO
RealD, which licenses of 3-D technology to movie theaters and other venues, aims to raise up to $200 million in an initial public offering. The company said its 3-D technology is in use at more than 5,300 theaters in 51 countries. For the nine months ended Dec. 25, RealD took in net revenue of $96 million but lost $28.8 million. Since its inception in 2003, the company has never made money.
But RealD sees growing opportunity for its 3-D technology, not only in entertainment, but also consumer electronics, education, aerospace, defense and health care. RealD plans to use proceeds from the offering to repay debt, but said it may reallocate funds for other uses. The joint book-running managers for the offering are J.P. Morgan Securities and Piper Jaffray.
Source: The Associated Press