Digital Domain Media (DDMG) IPO Opens Flat
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The IPO for Digital Domain Media (NYSE: DDMG) opened at $8.50 after pricing 5,500,000 share IPO at $8.50, which was below the expected $10-$12 range.
The offering was led by Roth Capital Partners and Morgan Joseph TriArtisan.
Digital Domain in an award-winning digital production company, providing computer-generated animation and digital visual effects for major motion picture studios and advertisers.
The company's filmography covers of over 80 major motion pictures includes Thor, TRON: Legacy, the Transformers trilogy, The Curious Case of Benjamin Button, Apollo 13 and Titanic.
For the nine months ended September 30, 2011, the company anticipate reporting gross revenue of between $76 million and $81 million, as compared to gross revenue of $60.9 million for the six months ended June 30, 2011. The company anticipates reporting negative Adjusted EBITDA of between $8.5 million and $11.5 million during this period, versus $0.5 million for the six months ended June 30, 2011.
The offering was led by Roth Capital Partners and Morgan Joseph TriArtisan.
Digital Domain in an award-winning digital production company, providing computer-generated animation and digital visual effects for major motion picture studios and advertisers.
The company's filmography covers of over 80 major motion pictures includes Thor, TRON: Legacy, the Transformers trilogy, The Curious Case of Benjamin Button, Apollo 13 and Titanic.
For the nine months ended September 30, 2011, the company anticipate reporting gross revenue of between $76 million and $81 million, as compared to gross revenue of $60.9 million for the six months ended June 30, 2011. The company anticipates reporting negative Adjusted EBITDA of between $8.5 million and $11.5 million during this period, versus $0.5 million for the six months ended June 30, 2011.
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