Strong Global Entertainment files for IPO on NYSE under ticker ‘SGE’

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Strong Global Entertainment Inc. filed for an initial public offering on Thursday, with plans to list on the New York Stock Exchange under the ticker ‘SGE.’ The Canadian company makes and distributes large format projection screens and related products to cinemas, theme parks, educational institutions and other venues. ThinkEquity is sole underwriter on the deal. Proceeds will be used for general corporate purposes, including working capital, capex, including the possible expansion of the Joliette Plant in Quebec, and for potential acquisitions. The company had revenue of $25.9 million in 2021, up from $20.8 million in 2020, according to its filing documents. The deal comes as the Renaissance IPO ETF IPO, -4.27% has fallen 27% in the year to date, while the S&P 500 SPX, -0.97% has fallen 6%.

This article was originally published by Marketwatch.com. Read the original article here.

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