|Over a month ago|
STRONG Technical Services extends nationwide MSA with Marcus Theatres » 08:3211/3011/30/21
STRONG Technical Services…
STRONG Technical Services (BTN) announced it has extended its nationwide managed service agreement with Marcus Theatres (MCS) into 2023. These managed services will include 24/7/365 monitoring, technical support, and maintenance on all projection and audio equipment across more than 1,000 screens.
Ballantyne announces confidential submission of draft registration statement » 08:1111/1611/16/21
Ballantyne Strong announced that the Company has confidentially submitted a draft registration statement on Form S-1 to the Securities and Exchange Commission relating to a proposed initial public offering of common shares of Strong Global Entertainment. The number of shares and price range for the proposed offering have yet to be determined. The initial public offering is expected to take place after the SEC completes its review process, subject to market and other conditions.
|Over a quarter ago|
Ballantyne Strong appoints Michael Mitchell, Larry Swets to board » 08:3410/0610/06/21
Ballantyne Strong (BTN)…
Ballantyne Strong (BTN) announced the appointments of Michael Mitchell and Larry Swets, Jr. to its Board of Directors. Mitchell most recently served as a Partner at Locust Wood Capital. Swets currently serves as the CEO and member of the board of FG Financial Group (FGF).
Strong/MDI, IMAX partners for largest IMAX screen globally » 08:3810/0110/01/21
Strong/MDI Screen Systems, Inc., a Ballantyne Strong (BTN) company, announced that it has partnered with IMAX (IMAX) to deliver a record breaking-screen at the Traumpalast Multiplex in Leonberg, Germany. Covering a 574-seat IMAX auditorium, the Strong/MDI screen pushes the boundaries of visual experience to a new level. The IMAX screen is an impressive 69 feet high and 125 feet wide and weighs over 500 pounds, another IMAX record. It was manufactured in Joliette, Canada and coated on site by Strong/MDI professionals due to its massive measurements.
Ballantyne Strong, Cinionic expand cinema service, support capabilities » 08:3708/2608/26/21
Ballantyne Strong announced a preferred commercial relationship with Cinionic to expand Cinionic's cinema service and solution capabilities in the US and Canada. The relationship is with Ballantyne Strong's operating subsidiaries, Strong Technical Services and Strong/MDI Screen Systems. As part of the relationship, more than 40 STS technicians will join Cinionic's trusted cinema service network looking after exhibitors across North America. "Leveraging a legacy of cooperation between the companies, the bolstered cinema service operations provide reliable care for cinemas as moviegoers continue to return to the big screen. The STS field team will receive customized training as an install and servicing partner for all Cinionic's experience-enhancing cinema solutions," the company said. Cinionic and Ballantyne Strong will continue to collaborate on new opportunities that use Cinionic's laser-powered solution portfolio.
Strong/MDI Screen Systems introduces HGA ReAct screen » 08:3908/2308/23/21
Strong/MDI Screen Systems…
Strong/MDI Screen Systems announced the release of its HGA ReAct screen, specially designed for adaption to the new generation of high-resolution laser projectors. The HGA ReAct screen incorporates the benefits of Strong/MDI's acclaimed Premium HGA screens now optimized for use with laser projection applications. HGA ReAct sets the new standard for laser projection. Engineered for high output projector systems that require superior light diffusion properties, the ReAct offers high quality results with both 2D and passive 3D projection, with one of the highest 3D contrasts in the industry.
Investor Summit Group to hold a virtual summit » 09:2708/1808/18/21
ZEN, VVOS, MEEC, PYPD, ANPC, FGF, VRAR, SAFE, ARTL, ARC, GET, VLON, HCDI, KULR, SPI, ABIO, BTN, DTSS, RESN
Q3 Virtual Investor…
Q3 Virtual Investor Summit to be held on August 17-18. Webcast Link
Ballantyne Strong exercises rights » 09:1108/0408/04/21
Ballantyne Strong of 4201…
Ballantyne Strong of 4201 Congress Street, Suite 175, Charlotte, North Carolina 28209 announces that pursuant to the offering of rights by GreenFirst Forest Products Inc. which completed on July 30, 2021. Ballantyne Strong exercised 8,269,500 Rights at an exercise price of $1.50 per Right for aggregate consideration of $12,404,250, gaining ownership and control of 8,269,500 subscription receipts of the Company. Each Subscription Receipt will be automatically exchanged, without payment of additional consideration, for one common share in the capital of the Company subject to and conditional upon satisfaction of certain conditions by the Company. Based on the Company's press release of August 3, 2021, prior to and following the Expiry Time, 37,221,960 Common Shares were issued and outstanding and following the Expiry Time 111,665,880 Subscription Receipts were issued and outstanding upon the exercise of Rights. All amounts are in Canadian dollars unless otherwise indicated. Prior to the Expiry Time, Ballantyne Strong Inc., through its wholly-owned subsidiary, Strong/MDI Screen Systems Inc, beneficially owned or controlled 7,044,000 Common Shares. Under the Rights Offering, Ballantyne Strong was issued 21,132,000 Rights. Prior to the Expiry Time, Ballantyne Strong sold 12,862,450 Rights through the facilities of the TSX Venture Exchange at an average price of $0.1661 for aggregate consideration of approximately $2,136,932. Following the Expiry Time, Ballantyne Strong ceased to have ownership or control over any Rights and beneficially owned or controlled 7,044,000 Common Shares and 8,269,500 Subscription Receipts.
Ballantyne announces exercise of 8.3M rights in GreenFirst rights offering » 08:0307/3007/30/21
Ballantyne Strong announced that it has exercised 8.3 million rights in the rights offering conducted by GreenFirst Forest Products. GreenFirst, one of Ballantyne Strong's holdings, conducted the rights offering to finance a portion of its purchase of the assets of Rayonier A.M. Canada G.P. and Rayonier A.M. Canada Industries Inc., subsidiaries of Rayonier Advanced Materials Inc., a top-ten producer of lumber in Canada. As previously announced, the Company designated a special committee of independent members of its Board of Directors to evaluate all actions to be taken with respect to the rights offering. With the rights offering concluding on Friday, July 30, 2021, the Company has instructed its agent to exercise 8.3 million rights at an exercise price of $1.50 CAD per share for a total investment of $12.4 million CAD. The Company also sold 12.8 million rights for $2.2 million CAD and used the proceeds along with cash on the Company's balance sheet to fund the exercise. Following the exercise, the Company's cash position remains at approximately $10 million USD. Following the anticipated issuance of 8.3 million additional shares from the rights offering, the Company's GreenFirst holdings are expected to total 15.3 million common shares. Based on information previously published by GreenFirst, the Company's holdings are expected to account for approximately 10% of GreenFirst's outstanding common shares following the closing of the asset purchase and related financing transactions. GreenFirst announced on July 26, 2021, that the transaction has received required approvals from TSX Venture Exchange and that GreenFirst expects the acquisition transaction to close by the end of August 2021.
Ballantyne Strong to pursue IPO of Strong Entertainment business segment » 07:5107/2907/29/21
Ballantyne Strong announced that its Board of Directors has approved the pursuit of an initial public offering of its Strong Entertainment business segment through the offering of securities of Ballantyne Strong's newly-created, wholly-owned subsidiary, Strong Entertainment, Inc. For financial reporting purposes, Ballantyne Strong will continue to consolidate Strong Entertainment in its financial results. The proposed offering is expected to occur in 2021, subject to satisfactory market and other conditions. The timing, class, and number of securities to be offered and their price have not yet been determined. Ballantyne Strong intends to remain the majority stockholder of the subsidiary post-offering. A registration statement relating to the securities to be sold in the proposed initial public offering is expected to be filed with the Securities and Exchange Commission, but has not been filed or become effective.