LOS ANGELES, March 21, 2017 /PRNewswire/ — In a move that continues Legion M’s crowd-funding disruption, the fan-funded entertainment company announced its Regulation A+ round of equity crowdfunding has been qualified by the U.S. Securities & Exchange Commission. Last year the company completed a sold-out Regulation CF offering that made JOBS Act history and united over 3,100 passionate fans as shareholders of the company. Today, Legion M builds on that success and opens its doors to a new round of investors under Regulation A+(often described as a mini IPO), which allows companies to raise funds in the 8-figure range from non-accredited investors. Investments are now being accepted on Wefunder.
Since opening to fan investors last year, the company has moved quickly to build a slate of film and TV projects. Its current slate includes the April 7 release COLOSSAL, a wildly imaginative sci-fi feature starring Anne Hathaway and Jason Sudeikis, and directed by Nacho Vigalondo; FIELD GUIDE TO EVIL, a global horror anthology produced by Alamo Drafthouse CEO Tim League and Ant Timpson; ICONS: FACE TO FACE, a groundbreaking virtual-reality interview series launching with comic-book visionary Stan Lee interviewed by Kevin Smith; and PITCH ELEVATOR, a digital TV series and Comic Con experience that offers fans the opportunity to win a film or TV development deal.
“We could not be prouder of the rapid progress we’ve made this past year, supported by our passionate legion of shareholders,” said Paul Scanlan, co-founder of Legion M. “Our energized and engaged shareholders are what set us apart and enable us to be a disruptive force in the entertainment industry. As we launch our next round of funding, we’re excited to join forces with new fans and expand on our exciting slate of projects.”
“This is a historic moment for fans,” says co-founder Jeff Annison. “Before the JOBS Act, this is the sort of opportunity that was only available for wealthiest few percent of the population. After a sold-out round last year, we’ve seen first-hand the power of a fan-owned company. Now we’re excited to open the gates of Hollywood and welcome a new round of investors as co-owners of the world’s first fan-owned entertainment company.”
The opening share price is $7.47 with a minimum raise of $500K. The minimum investment is $100. Details can be found at www.wefunder.com/legionm.
About Legion M
Legion M was created in 2016 by Paul Scanlan and Jeff Annison, two of the Emmy winning founders of MobiTV. The company is using the JOBS Act to become the first media company built from the ground up to be owned by fans. Legion M’s mission is to unite 1 million fans to bring boldly original film, TV and virtual reality projects to market. We empower creators to push the boundaries, and invite fans to come along for the ride. In August of 2016, Legion M closed a historic, oversubscribed equity crowd funding round, raising over $1.2 MM from over 3,100 investors. Allies and advisors include Stoopid Buddy Stoodios (Robot Chicken, Supermansion), Tim League (Alamo Drafthouse, NEON), Adam Rymer (President of Legendary Digital Entertainment, Nerdist, Geek & Sundry), Scott Landsman (Head of Comedy TV, Sony), Lisa Taback (award winning publicist), Kerry O’Quinn (founder of Starlog and Fangoria) and more.
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SOURCE Legion M