The Film Department Holdings Goes Public

“Law Abiding Citizen” studio will offer IPO, hopes to raise $85 million

Last Updated: December 7, 2009 @ 2:09 PM

The Film Department Holdings, an independent production company, is paving the way for an initial public offering.

The company, which produced the Jamie Foxx-Gerard Butler movie "Law Abiding Citizen," announced Monday that it had registered with the Securities and Exchange Commission to sell shares of its common stock.

It has not determined how many shares it will offer and what price range it will use.
The Film Department anticipates it will raise $85 million from the public offering, plus $5.6 million in underwriters’ warrants, according to TransWorldNews.

Girard Securities will be the underwriter.

The Film Department produces commercial movies with budgets between $10 and $45 million that it hopes will appeal to a broad audience.

Next year, the company plans to build a U.S.theatrical releasing arm, with the goal of distributing six to 10 films per annually.