Film Department Holdings, an independent motion picture finance and production company, announced terms for its IPO on Monday. The West Hollywood, CA-based company plans to raise $85 million by offering 6.5 million shares at a price range of $12-$14. At the mid-point of the proposed range, Film Department will command a market value of $125 million. The production company, which was founded in 2007 and booked $13 million in sales over the last 12 months, plans to list on the NASDAQ under the symbol TFDI. Girard Securities is the lead underwriter on the deal, for which pricing terms and timing were not disclosed.
