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Projection screen maker Strong Global Entertainment sets terms for $15 million IPO

August 29, 2022

Strong Global Entertainment, a maker of premium projection screens being spun out of Ballantyne Strong, announced terms for its IPO on Monday.

The Charlotte, NC-based company plans to raise $15 million by offering 3 million shares at $5. At the proposed price, Strong Global Entertainment would command a market cap of $45 million.

If the company's market cap is below $50 million at pricing, Strong Global Entertainment will be excluded from Renaissance Capital's 2022 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, along with 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 was founded in 1932 and booked $34 million in revenue  for the 12 months ended June 30, 2022. It plans to list on the NYSE American under the symbol SGE. ThinkEquity is the sole bookrunner on the deal.