You will be redirected back to your article in seconds

Film Department tweaks IPO size

Mark Kvamme also named to board of directors

The Film Department on Tuesday lowered the price of its expected public offering and named new minority investor Mark Kvamme of Sequoia Capital to its board of directors.

Kvamme will receive more than 60,000 shares in return for his investment.

In an amended filing with the SEC, the Film Department also warned it might not have a future if the initial public doesn’t go through.

The indie production and international sales company first registered for an IPO in December, proposing a per share price of between $12 and $14. At that time, the Film Department was hoping to raise upwards of $80 million.

Tuesday’s SEC filing amended the number of shares to be offered from 4,615,385 to 5,454,545, at between $10 and $12 per share, for net proceeds of roughly $54 million.

Share prices often fluctuate during an IPO process. Sometimes, fluctuations can signal lukewarm interest among investors.

Film Department execs are barred from discussing the IPO by SEC rules, but several sources outside the company said the IPO should close by the end of the month.

A partner at Sequoia since 1999, Kvamme reps the firm’s investments in LinkedIn, FunnyorDie, Mark Logic, AdBrite and StrongMail. Previous to joining Sequoia, he was a founding member of Apple France.

More Film

  • Downton Abbey Finale Preview: Why the

    'Downton Abbey' Movie Gets 2019 Release Date

    The Film Department on Tuesday lowered the price of its expected public offering and named new minority investor Mark Kvamme of Sequoia Capital to its board of directors. Kvamme will receive more than 60,000 shares in return for his investment. In an amended filing with the SEC, the Film Department also warned it might not […]

  • Kevin Feige

    Marvel Chief Kevin Feige to Be Honored by BAFTA Los Angeles

    The Film Department on Tuesday lowered the price of its expected public offering and named new minority investor Mark Kvamme of Sequoia Capital to its board of directors. Kvamme will receive more than 60,000 shares in return for his investment. In an amended filing with the SEC, the Film Department also warned it might not […]

  • The Reason I Jump

    'The Reason I Jump' Autism Movie in Development at Paul Allen's Vulcan

    The Film Department on Tuesday lowered the price of its expected public offering and named new minority investor Mark Kvamme of Sequoia Capital to its board of directors. Kvamme will receive more than 60,000 shares in return for his investment. In an amended filing with the SEC, the Film Department also warned it might not […]

  • Screen Media Buys Horror Film 'Luz'

    Screen Media Buys Horror Film 'Luz' for 2019 Release (EXCLUSIVE)

    The Film Department on Tuesday lowered the price of its expected public offering and named new minority investor Mark Kvamme of Sequoia Capital to its board of directors. Kvamme will receive more than 60,000 shares in return for his investment. In an amended filing with the SEC, the Film Department also warned it might not […]

  • Bob Bakish: Viacom Is 'Very Well-Positioned'

    Bob Bakish Says Viacom Is 'Very Well-Positioned' in a World of Media Mergers

    The Film Department on Tuesday lowered the price of its expected public offering and named new minority investor Mark Kvamme of Sequoia Capital to its board of directors. Kvamme will receive more than 60,000 shares in return for his investment. In an amended filing with the SEC, the Film Department also warned it might not […]

  • Egyptian director A.B Shawky poses during

    'Yomeddine' Director A.B. Shawky to Receive Variety MENA Talent of the Year Award

    The Film Department on Tuesday lowered the price of its expected public offering and named new minority investor Mark Kvamme of Sequoia Capital to its board of directors. Kvamme will receive more than 60,000 shares in return for his investment. In an amended filing with the SEC, the Film Department also warned it might not […]

  • 'Capernaum' Selected by Lebanon for Foreign-Language

    Nadine Labaki's 'Capernaum' Selected by Lebanon for Foreign-Language Oscar Race

    The Film Department on Tuesday lowered the price of its expected public offering and named new minority investor Mark Kvamme of Sequoia Capital to its board of directors. Kvamme will receive more than 60,000 shares in return for his investment. In an amended filing with the SEC, the Film Department also warned it might not […]

More From Our Brands

Access exclusive content