Ventura Motion Picture Plans Initial Stock Offer

Ventura Motion Picture Group Ltd. of North Hollywood plans to raise as much as $265,000 with an initial public offering of 150,000 common share units, according to a filing with the U.S. Securities and Exchange Commission. The company, a wholly owned subsidiary of Ventura Entertainment Group Ltd., plans to develop and produce movies from screenplays it owns or has options to buy.

The company said it would use the proceeds from the $1.75-per-unit offering to pay officers’ and directors’ salaries for the first year of operation.

Each unit sold will include a single share of common stock and warrants to buy nine class A common shares and seven class B shares. If all those warrants were exercised, the company could ultimately raise as much as $6 million.