Digiplex Destinations Closes Previously Announced $5.7 Million Registered
WESTFIELD, N.J. -- October 10, 2013
Digital Cinema Destinations (Nasdaq: DCIN), doing business as Digiplex
Destinations, announced today that it has closed its previously announced
registered direct offering with certain institutional investors of 1,141,000
shares of its Class A Common Stock. The offering price was $5.00 per share,
resulting in gross proceeds of approximately $5.7 million. Barrington Research
Associates, Inc. acted as exclusive placement agent for the offering.
The Company intends to use the net proceeds from the offering for general
corporate purposes, which may include, among other things, repayment of debt,
capital expenditures, the acquisition of additional units of membership
interest in our joint venture, Start Media/Digiplex, LLC, the financing of
possible acquisitions or business expansions, increasing our working capital
and the financing of ongoing operating expenses and overhead.
These securities were offered pursuant to the Company’s effective shelf
registration statement, which was previously filed with the Securities and
Exchange Commission (SEC) on Form S-3.Copies of a prospectus supplement and
accompanying base prospectus relating to the offering may be obtained from the
SEC website at http://www.sec.gov, or from Barrington Research Associates,
Inc. at 161 North Clark Street, Chicago, Illinois, 60601, 312-634-6000.
This press release shall not constitute an offer to sell nor the solicitation
of an offer to buy any security, nor shall there be any sale of these
securities in any state in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the securities laws of
any such state.
About Digital Cinema Destinations Corp. (www.digiplexdest.com)
Digital Cinema Destinations Corp. is dedicated to transforming its movie
theaters into interactive entertainment centers. The Company provides
consumers with uniquely satisfying experiences, combining state-of-the-art
digital technology with engaging, dynamic content that far transcends
traditional cinematic fare. The Company’s customers enjoy live and
pre-recorded alternative programming such as concerts, operas, ballets,
sporting events, conferences, interactive videogames, auctions, fashion shows
and, on an ongoing basis, the very best major motion pictures.As of October
1, 2013, Digiplex operates 19 cinemas and 184 screens in AZ, CA, CT, NJ, OH
and PA. You can connect with Digiplex via Facebook, Twitter, YouTube and
Blogger. Digiplex is also participating in DigiNext, a unique, specialty
content joint venture (with Nehst Studios) featuring curated content from
festivals around the world. DigiNext releases typically include innovative
live Q&A sessions between the audience and cast members.
This press release contains forward-looking statements. Forward-looking
statements involve known and unknown risks and uncertainties, which may cause
the Company's actual results in future periods to differ materially from
forecasted results. A number of factors, including those described in the
Company's Annual Report on Form 10-K for the fiscal year 2013 and other
filings with the U.S. Securities and Exchange Commission (SEC), could
adversely affect the Company. Copies of the Company's filings with the SEC are
available from the SEC, may be found on the Company's website or may be
obtained upon request from the Company. The Company does not undertake any
obligation to update the information contained herein, which speaks only as of
Digital Cinema Destinations Corp.
Bud Mayo, 908-396-1362
JCIR - Investor Relations
Robert Rinderman or Jennifer Neuman, 212-835-8500
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