But now Peter McDonnell, CEO of aptly named Chicago brokerage Civilian Capital, aims to fix that, at least, with respect to the fortune part.
McDonnell, 46, plans to invite “civilians” to participate in the first-ever IPO of a company set up to produce a single film: Billy Dead. The murder mystery would be directed by Keith Gordon, producer-director of Waking the Dead, and star Ethan Hawke, a 2001 Oscar nominee -- provided that it gets financing. Civilian Capital issued the prospectus in June for 900,000 shares at $8.75 each, to trade on the OTC Bulletin Board. Likely to come to market later this year, the issue isn’t intended for odd-lot investors: The stock will be sold in 100-share blocks.
But that still represents a cheap -- if risky -- ticket to minimogulhood. The IPO’s expected proceeds of some $8 million would finance a low-budget independent film, after all, not a studio blockbuster. “We want to give everyone a chance to get into Hollywood,” says McDonnell.
The brokerage chief had no connection to the film industry until three years ago, when he met Barry Poltermann, producer, co-director and co-writer of 1994’s The Unearthing -- tag line: “They’re coming to feed on the unborn” -- who was trying to scare up funds. He and McDonnell co-founded Civilian Capital and hope to launch as many as six more single-picture IPOs in the next year.
The prospectuses are sure to raise eyebrows, if nothing else. When McDonnell was shopping his IPO plans, one studio boss said: “Let me get this straight. You’re going to disclose the budget? How am I going to make any money?”
