Hal Roach Studios has a major new investor.
The Los Angeles-based studio said it has agreed to issue 2.4 million shares, or nearly 26% of its stock, for $16.8 million to Qintex America Ltd., a unit of Qintex Ltd. of Australia. Qintex is obligated to acquire an additional 2.4 million new shares for the same price in 12 months, increasing its stake to 41%. Qintex said it is negotiating to buy some shares from International HRS Industries, the studio’s largest shareholder, which owns 2.9 million. In addition, Qintex will provide up to $50 million to the studio on a project-by-project basis, according to Hal Roach Vice President Andrew Kaplan.
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