|Bid||0.0000 x 800|
|Ask||0.0000 x 900|
|Day's Range||0.5500 - 0.8100|
|52 Week Range||0.4600 - 6.8000|
|Beta (3Y Monthly)||N/A|
|PE Ratio (TTM)||N/A|
|Earnings Date||May 20, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||5.00|
The Nasdaq Stock Market alerted iPic Entertainment Inc. that its stock has been delisted, according to a report filed Thursday with the Securities and Exchange Commission (SEC). The Boca Raton-based luxury theater company will not appeal the delisting, according to the document. This is just the latest domino to fall for iPic (Nasdaq: IPIC), which filed for Chapter 11 bankruptcy protection Monday.
iPic Entertainment Inc. shares slid 59% in premarket trade Monday, after the company said it has filed for chapter 11 bankruptcy to allow it time to restructure its debt.
Ipic Entertainment Inc. shares slid 40% in premarket trade Monday, after the company said it has filed for chapter 11 bankruptcy and is in talks with numerous parties on restructuring its debt. The luxury cinema chain operator said it will use the bankruptcy filing to either sell itself or reorganize to emerge with a healthy balance sheet and new capital structure. "The financial restructuring will allow the Company to further improve and enhance its theaters and dining experiences, continue to provide an unparalleled guest experience that is evidenced by the over 2 million IPIC ACCESS loyalty members, and continue with its expansion plans," the company said in a statement. In late July, the company said it had missed an interest payment on a loan and cautioned investors that it may have to file for bankruptcy. The company has $204 million of debt in form of a loan from the Teachers' Retirement System of Alabama (RSA), the pension fund for teachers in that state. It was unable to make a $10 million interest payment on that borrowing due July 1. The company has a debtor-in-possession loan to fund operations during the bankruptcy proceedings provided by the RSA. It expects the restructuring process to last 90 to 120 days. Shares slid 29% premarket and are down 47% in 2019, while the S&P 500 has gained 17%.
BOCA RATON, Fla., Aug. 5, 2019 /PRNewswire/ -- IPIC® Entertainment ("IPIC" or the "Company") (IPIC), creators of America's coveted IPIC® luxury theater-and-restaurant destinations, announced today that it is in negotiations with numerous parties to complete a comprehensive financial restructuring. To consummate the restructuring the Company has initiated proceedings under Chapter 11 of the United States Bankruptcy Code in the District of Delaware ("Court") where it will seek approval of either a sale or a reorganization plan and emerge with a healthy balance sheet and new capital structure. The financial restructuring will allow the Company to further improve and enhance its theaters and dining experiences, continue to provide an unparalleled guest experience that is evidenced by the over 2 million IPIC ACCESS loyalty members, and continue with its expansion plans.
Shares continue to fall for Boca Raton-based iPic Entertainment, which runs 16 movie theater locations in the U.S. The company's stock plummeted over 40% following the news that it couldn't make an interest payment of $10 million towards a $204 million debt it owes to the Teachers' Retirement System of Alabama (TRSA) and the Employees' Retirement System of Alabama (ERSA). In a letter to investors, iPic (Nasdaq: IPIC) revealed it has just over $2 million on-hand. As of Wednesday afternoon, the company's shares were down more than 50% after the company said it may reorganize through Chapter 11 bankruptcy.
Shares of upscale cinema chain operator iPic Entertainment Inc. tanked on Monday, after the company said it missed an interest payment on a loan and that it may have to file for bankruptcy.
The company notified investors that it was unable to make a $10 million interest payment earlier this month.
Shares of iPic Entertainment Inc. slid 42% Monday in heavy volume, after the operator of restaurants and connected theaters said it missed an interest payment owed to a pension fund and may file for chapter 11 bankruptcy. Alliance Global Partners downgraded the stock to neutral from buy on the news and said it would be worthless if the company does go bankrupt. Volume of 75,000 shares traded was more than 14 times the stock's 65-day average of just 5,200. iPic, which has casual restaurants, farm-to-glass full-service bars, and theater auditoriums with in-theater dining at 123 screens in 16 theaters in 9 states, said it has $204 million of debt under a credit facility extended by the Teachers' Retirement System of Alabama (RSA). The company missed a $10.1 million interest payment that was due on July 1. "We expect IPIC will need to raise capital at unfavorable terms and as a result, we downgrade IPIC to NEUTRAL (from BUY) and remove our target until its capital structure becomes more stable," said analyst Brian Kinstlinger. "Additionally, we are reviewing our estimates given the expected dilution, increased interest expense and potential disruption." The stock has fallen 55% in 2019, while the S&P 500 has gained 20%.
Suite of New Programming Aims to Deliver an Engaging Branded Entertainment Program for IPIC Members, Luxury Advertisers & Moviegoers NEW YORK , July 17, 2019 /PRNewswire/ -- IPIC® Entertainment Inc., ("IPIC" ...
BOCA RATON, Fla., May 20, 2019 -- IPIC® Entertainment Inc. (“IPIC” or the “Company”) (NASDAQ: IPIC), creators of America’s coveted IPIC® luxury theater-and-restaurant.
BOCA RATON, Fla., May 17, 2019 (GLOBE NEWSWIRE) -- iPic® Entertainment Inc. (“iPic” or the “Company”) (IPIC) creators of America’s coveted IPIC® luxury theater-and-restaurant destinations, today announced that it will report its First Quarter 2019 financial results after the close of the financial markets on Monday, May 20, 2019. An archive of the webcast will be available at the same location on the corporate website shortly after the call has concluded. Established in 2010 and headquartered in Boca Raton, FL, IPIC® Entertainment is America’s premier luxury restaurant-and-theater brand.
IPIC® Entertainment Inc. (“IPIC” or the “Company”) (IPIC), creators of America’s coveted IPIC® luxury theater-and-restaurant destinations, today announces the appointment of Jason Daniel as Senior Vice President, Operations. Daniel brings a significant amount of hospitality and leadership experience from three decades to IPIC, having worked in Operations Leadership roles for brands including Bennigan’s, Boston Market, Macaroni Grill, Metromedia Tavern and most recently, Cheddar’s Scratch Kitchen. Daniel joins the team as three-time James Beard Award Winning Chef and Chief Operating Officer Sherry Yard pursues other business opportunities in the culinary world, including her ongoing participation in the Great British Baking Show.
Change Reflects Market Leadership, Membership Growth, Unification of Brand Collective BOCA RATON, Fla. , April 2, 2019 /PRNewswire/ -- IPIC ® Entertainment Inc., ("IPIC" or the "Company") ...
IPic Entertainment Inc is engaged in operating theaters in United States. Warning! GuruFocus has detected 6 Warning Signs with BAM. For the last quarter IPic Entertainment Inc reported a revenue of $37.8 million, compared with the revenue of $37.45 million during the same period a year ago.
Reiterates Full Year 2019 Outlook; Updates Four Key Strategic Initiatives 2018 Revenue of $148.3 million, up 2.8%2018 Comparable-store sales growth of 1.4%2018 Store-level.
BOCA RATON, Fla., March 06, 2019 -- iPic® Entertainment Inc. (“iPic” or the “Company”) (NASDAQ: IPIC) creators of America’s coveted IPIC® luxury theater-and-restaurant.
Former Zimmerman Ad Executive Brings Digital Expertise & Growth Strategies to IPIC® BOCA RATON, Fla. , Feb. 19, 2019 /PRNewswire/ -- IPIC® Entertainment ("IPIC" or the "Company") (NASDAQ: ...
In an interview with Real Vision, IPO Edge Editor-in-Chief John Jannarone lays out several 2019 catalysts for luxury-theater operator iPic and clears up confusion created by uniformed short sellers. Chief among the positive events on the horizon is formal approval to open a theater in Saudi Arabia, which alone may be worth $8 a share. The […]
BOCA RATON, Fla., Jan. 14, 2019 (GLOBE NEWSWIRE) -- iPic® Entertainment Inc. (“iPic” or the “Company”) (IPIC), creators of America’s coveted iPic® luxury theater-and-restaurant destinations, today reported preliminary sales results for the fourth quarter and full year ended December 31, 2018 that are above the Company’s previous guidance ranges. Hamid Hashemi, Founder & Chief Executive Officer of iPic® Entertainment, commented, “Our fourth quarter was truly an exceptional period of top-line growth at iPic and we are pleased that our preliminary 2018 revenue and comparable-store sales results exceeded our own projections despite a weaker slate of movie titles compared to the prior year.
On The Go Seasoning Collection Available For a Limited Time at iPic® Theaters Nationwide BOCA RATON, Fla. , Jan. 10, 2019 /PRNewswire/ -- This January, iPic® members and moviegoers can look forward to ...
His attorney says discussions with creditors are ongoing and "substantive." In testimony, the developer named iPic Entertainment and Anthropologie as some of the interested tenants.