MoviePass Backer Soars on Plan to Raise $100 Million in Funding

Helios & Matheson Analytics Inc. rose as much as 29 percent after announcing plans to raise $100 million to increase its investment in MoviePass, the all-you-can-watch cinema service.

The New York-based company, which agreed to buy a majority stake in MoviePass, is issuing the notes to provide the $9.95-a-month subscription cinema service with additional funds and for general corporate purposes, according to a statement Monday. Canaccord Genuity Inc. acted as sole placement agent for the notes, which will be convertible at $12.06 a share.