Digital Cinema to price $23 million initial public offering of stock

Company seeks to acquire the Cinema Centers property, repay debt

By Devika Patel

Knoxville, Tenn., Dec. 20 - Digital Cinema Destinations Corp. will price a $23 million initial public offering of class A common stock, according to a Form S-1 filed Tuesday with the Securities and Exchange Commission.

The company expects its shares will trade on the Nasdaq under the symbol "DCIN." There is a 45-day greenshoe for the deal.

Dominick & Dominick is the underwriter.

Proceeds will be used to acquire the Cinema Centers property, to repay debt and for general corporate purposes, including working capital needs.

Based in Westfield, N.J., Digital Cinema owns and operates movie theaters in New Jersey.

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