Cantor Entertainment files for IPO of up to $100 million

Reuters News
Posted: Dec 22, 2011 6:23 PM
Cantor Entertainment files for IPO of up to $100 million

(Reuters) - Gaming software maker Cantor Entertainment Technology Inc filed with U.S. regulators on Thursday to raise up to $100 million in an initial public offering of its Class A common stock.

The Nevada-based company told the U.S. Securities and Exchange Commission in a preliminary prospectus that Cantor Fitzgerald & Co would underwrite the IPO.

The company said it would use the money from the offering to repay debt and plans to list its common stock on Nasdaq under the symbol "CETI."

The filing did not reveal how many shares the company planned to sell or their expected price.

The company, a unit of financial services firm Cantor Fitzgerald, owns the Hollywood Stock Exchange, an online game, where players use simulated money to buy and sell shares of actors, directors and other film-related options.

The amount of money a company says it plans to raise in its first IPO filings is used to calculate registration fees. The final size of the IPO could be different.

(Reporting by Satyanarayan Iyer in Bangalore; Editing by Viraj Nair)