and Matheson Analytics, the majority owner of MoviePass, plummeted more than 40% in trading Thursday after announcing the pricing of its $30 million public share offering.
Helios and Matheson
, which owns 92% of the MoviePass upstart movie-theater subscription service, on Thursday said it was offering 10.5 million shares for $2.75 per share — 28.2% below Wednesday’s stock closing price of $3.83 per share.
Shares of Helios and Matheson, traded on the Nasdaq
with the ticker symbol “Hmny,” have been extremely volatile. Earlier this week, the stock rose more than 45% as investors latched on to Verizon
’s disclosure of a 9.3% ownership stake in the company. Hmny had actually revealed the stock deal with Verizon on April 5, as part of Helios and Matheson’s acquisition of the Moviefone
service from Verizon’s Oath unit.
Helios and Matheson said the offering of 10.5 million shares is expected to close on or about April 23, 2018. The company said it may use