Ascendant Films Limited (AFL) is a UK-based maker and distributor of films, TV programmes and documentaries. It is raising money to produce three new films and plans to distribute its own content on a new digital platform, potentially boosting film profits. Through an associate (Ascendant Releasing), it will distribute third-party films.
AFL wishes to raise £3.9m, which will be spent on the three key film titles in the current slate, which supports Phase 1 of its strategy.
AFL plans to raise £150,000 from SEIS investors, £2.12m from an EIS issue and the rest (£1.63m) from non-EIS sources.
AFL will look for an exit after trading for four years. This will be either by means of a trade sale or a management buyout.
Digitally driven changes in film distribution and the rising global spend on content should play in AFL’s favour.
This has been applied for and obtained for SEIS and EIS.