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Shares of MoviePass parent, Helios and Matheson,
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- Shares of MoviePass parent
- Helios and Matheson said it bought more MoviePass shares in order to recoup its cash advances to the movie service.
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Shares of MoviePass parent Helios and Matheson slumped 6.5% Friday after the company announced it was upping its ownership of the movie-theater subscription service to 78% from 62%.
Helios and Matheson said it was acquiring more MoviePass stock in order to recoup its cash advances to the subscription service in the period from December 19 through Thursday. The company granted MoviePass an advance of roughly $45.5 million to support its operations and expansion plans.
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