July 26, 2016 2:36 AM ET

Hotels, Restaurants and Leisure

Company Overview of RMS Titanic Inc.

Company Overview

RMS Titanic, Inc. engages in developing and touring museum exhibitions. The company operates as the salvor-in-possession of the Titanic wreck. The company was incorporated in 1993 and is based in Atlanta, Georgia. RMS Titanic, Inc. operates as a subsidiary of Premier Exhibitions Inc. On June 14, 2016, RMS Titanic Inc. along with its affiliates filed a voluntary petition for reorganization under Chapter 11 in the U.S. Bankruptcy Court for the Middle District of Florida.

3340 Peachtree Road N.E.

Suite 2250

Atlanta, GA 30326

United States

Founded in 1993

Phone:

404-842-2600

Fax:

404-842-2626

Key Executives for RMS Titanic Inc.

Interim Chief Executive Officer of Premier Exhibitions Inc. and President of Premier Exhibitions Inc.
Age: 56
Collections Manager
Compensation as of Fiscal Year 2016.

RMS Titanic Inc. Key Developments

Motion for Asset Sale Filed by RMS Titanic Inc.

RMS Titanic Inc. filed a motion in the US Bankruptcy Court for the sale of its certain assets on June 20, 2016. The debtor seeks the Court’s approval to market and sell its certain assets. The debtor’s assets include certain Titanic Artifacts from the French Collection. The debtor believes that the sale would generate enough revenue to pay all of the debtors’ creditors in full, return all of the equity to the debtors’ shareholders and provide working capital for the debtors as they emerge from bankruptcy.

RMS Titanic, Inc. Enters into Full and General Mutual Release Settlement and Confidentiality Agreement with Seaventures

On April 3, 2015 RMS Titanic Inc. entered into a full and general mutual release settlement and confidentiality agreement with Seaventures, LTD (SV). The agreement settles litigation between the company and SV in the Circuit Court for Orange Country, Florida. The agreement requires RMS Titanic Inc. to pay SV the agreed sum of $425,000, as follows: $75,000 to SV on or before April 10, 2015; $100,000 on or before March 1, 2016; $100,000 on or before March 1, 2017; and $150,000 on or before March 1, 2018. In addition the company must stage at least two Joint Exhibitions with SV within 24 months from the date of execution of the agreement in which SV is entitled to a portion of the net revenues or $1 per ticket sold depending on the location of the exhibition. Each of the parties to the agreement executed mutual general releases.

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Recent Private Companies Transactions

Type
Date
Target
Bankruptcy
June 14, 2016
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