Strong Global Entertainment Inc. closes IPO and separation from FG Group Holdings Inc.

2 minute read
18 May 2023

On May 18, 2023, Strong Global Entertainment, Inc. ("Strong") (NYSE American: SGE), announced the closing of its initial public offering ("IPO") of Class A Common Voting Shares.

In connection with the IPO, Strong also completed the separation of the entertainment business from FG Group Holdings Inc. and its contribution to Strong by entering various agreements. These agreements took effect immediately prior to the closing of the IPO.

Strong manufactures and distributes premium large format projection screens, provides comprehensive managed services, technical support and related products and services primarily to cinema exhibitors, theme parks, educational institutions, and similar venues. It also provides maintenance, repair, installation, network support services and other services to cinema operators, primarily in the US. Strong also owns Strong Studios, Inc. which develops and produces original feature films and television series.

Gowling WLG was Canadian counsel to Strong with respect to these transactions with a team that included Cyndi Laval, Jill Dunn, Stefan Nasswetter and James Stewart (corporate); Brent Kerr and Anita Yuk (tax); and Julie Lanteigne and Fabienne Racicot (real estate).

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