iPic® Entertainment Enters Into Agreement with PVR Limited for Minority Stake
Nov 21, 2017, 09:03 ET
BOCA RATON, Fla., Nov. 20, 2017 /PRNewswire/ -- iPic®-Gold Class Entertainment Inc. ("iPic" or the "Company"), today announced PVR Limited (PVR), India's largest and the most premium film exhibition company, has agreed to acquire a minority stake in iPic®-Gold Class Entertainment Inc.
iPic® is America's premier luxury restaurant-and-theater company, which owns and operates 16 locations with 121 screens and 10 restaurants across 10 states in the United States. iPic®'s facilities blend three distinct areas: a polished-casual restaurant, a farm-to-glass full-service bar, and world-class luxury theater auditoriums into a one-of-a-kind experience. The Company's multi-faceted guest experience of dining, drinking and watching a movie in a luxurious setting is supported and enhanced by ever changing Hollywood movies and other non-traditional content such as concerts and eGaming.
iPic® previously announced its intention to file a Regulation A+ initial public offering that will allow all of its loyal fans and theater goers, along with the general public, the opportunity to invest in its luxury restaurant-and-theater concept. iPic has agreed to appoint Mr. Ajay Bijli, Chairman and Managing Director of PVR Limited, to its Board of Directors upon completion of its initial public offering.
"We are very pleased to be gaining PVR as a talented and strategic partner during this exciting time for iPic as we work towards becoming a publicly traded company," said Hamid Hashemi CEO and Founder. "We welcome Mr. Bijli to our Board of Directors and believe his knowledge and experience will prove invaluable to iPic's growth and expansion in both new U.S. markets as well as overseas."
Individuals interested in learning more about the iPic® Entertainment Regulation A+ investment opportunity can register an indication of interest by visiting www.banq.co/listings/ipic.
About iPic®–Gold Class Entertainment, LLC
iPic® Entertainment is America's premier luxury restaurant-and-theater company. iPic currently operates 121 screens at 16 locations in 10 states in the United States, with an additional 5 locations under construction and a pipeline of additional sites in various stages of development.
iPic® was founded by Mr. Hamid Hashemi who is the President and Chief Executive Officer of the company. The key shareholders of iPic® include iPic Holdings, LLC, Village Roadshow (Australia's largest cinema exhibitor), Regal Cinemas (one of USA's largest cinema exhibition chain) and Retirement System of Alabama (a large state pension fund).
For more information, visit www.ipic.com.
About PVR Limited
PVR is India's largest and the most premium film exhibition company. Since its inception in 1997, the brand 'PVR' has redefined the way entertainment is consumed in the country. PVR currently operates a cinema circuit comprising 600 screens at 131 properties in 51 cities (18 states and 1 Union Territory), serving approx. 75 million patrons annually.
Forward-Looking Statements
This press release may include ''forward-looking statements.'' To the extent that the information presented in this press release discusses financial projections, information, or expectations about our business plans, results of operations, products or markets, or otherwise makes statements about future events, such statements are forward-looking. Such forward-looking statements can be identified by the use of words such as ''should,'' ''may,'' ''intends,'' ''anticipates,'' ''believes,'' ''estimates,'' ''projects,'' ''forecasts,'' ''expects,'' ''plans,'' and ''proposes.'' Although we believe that the expectations reflected in these forward-looking statements are based on reasonable assumptions, there are a number of risks and uncertainties that could cause actual results to differ materially from such forward-looking statements. You are urged to carefully review and consider any cautionary statements and other disclosures, including the statements made under the heading "Risk Factors" and elsewhere in the offering statement that we will file with the SEC. Forward-looking statements speak only as of the date of the document in which they are contained, and iPic® Entertainment does not undertake any duty to update any forward-looking statements except as may be required by law.
Legal Disclaimer
The offering will be made only by means of an offering circular. An offering statement on Form 1-A relating to these securities has been filed confidentially with the Securities and Exchange Commission but has not yet become qualified.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
No money or other consideration is being solicited at this time with respect to such an offering, and if sent in response to these materials for such an offering, it will not be accepted. No securities may be sold, and no offer to buy securities can be accepted and no part of the purchase price can be received for an offering under Regulation A+ until an offering statement is qualified by the U.S. Securities and Exchange Commission, and any such offer may be withdrawn or revoked, without obligation or commitment of any kind, at any time before notice of its acceptance given after the qualification date. An indication of interest made by a prospective investor in a Regulation A+ offering is non-binding and involves no obligation or commitment of any kind.
Investor Relations:
ICR
Melissa Calandruccio, CFA
[email protected]
646-277-1273
Media Relations:
The Gab Group for iPic® Entertainment
Michelle Soudry
[email protected]
561-750-3500
SOURCE iPic Entertainment