Cash boosts Intandem's worldwide plans
EmptyLONDON -- Sales company and financier Intandem Films, listed here on the Alternative Investment Market, bolstered its financial position by securing $7.2 million from a U.S. hedge fund in a deal arranged by U.S.-based Capitoline Global Finance Inc., the parties said Wednesday.
The cash will be pumped into Intandem's positioning on films it plans to represent for worldwide sales.
Armed with the hedge fund cash, the company has boarded four titles including "Incubus," which was released in October for download on the Internet by AOL. The film is expected to be released on DVD and television in North America by Sony Pictures Entertainment next year, Intandem said.
"This is a very exciting deal for Intandem and will act as the foundation for what we expect to be a period of solid growth," Intandem executive chairman Gary Smith said in a statement to the stock exchange. "We now represent 15 films, up from three films at the start of the year."
Capitoline Global Finance Inc. president Brian Gilmore said in a statement that he was looking forward to "a strong ongoing relationship" with Intandem.