WASHINGTON — MovieFone Inc., the telephone movie information and ticket service, will hold an initial public offering of its stock.
MovieFone filed with the Securities & Exchange Commission to offer up to 2.8 million Class A common shares at an estimated $ 12 to $ 14 a share, the SEC said Tuesday.
The New York-based company, formed recently as a holding company for PromoFone Inc. and Teleticketing Co. L.P., provides show times and theater locations for approximately 5,900 movie screens.
For about 1,300 of these screens, the company provides advance ticket sale services.
Net proceeds from the offering will be used to repay debt, to fund development and for general corporate purposes, including possible acquisitions, MovieFone said in the filing.