Strong Global Entertainment, a maker of premium projection screens being spun out of FG Group Holdings, raised $4 million by offering 1 million shares at $4, below the proposed price of $5.
Because the company raised less than $5 million and has a market cap of less than $50 million at pricing, Strong Global Entertainment will be excluded from Renaissance Capital's 2023 IPO stats.
Strong Global Entertainment manufactures and distributes premium large format projection screens, provides comprehensive managed services, technical support, and related products and services primarily to cinema exhibitors, theme parks, educational institutions, and similar venues. The company has contractual relationships to supply projection screens and coatings to IMAX, AMC, Cinemark, and other cinema operators worldwide. Other products include projectors, servers, audio systems, and other third-party products including lenses and lamps to customers in North and South America.
Strong Global Entertainment plans to list on the NYSE American under the symbol SGE. ThinkEquity acted as sole bookrunner on the deal.
