Peace Arch raises $3.75 million in IPO

Money to fund TV projects, pay down debt, Gamble sez

By DON TOWNSON

VANCOUVER -- Launched Thursday on the American Stock Exchange, Peace Arch Entertainment raised $3.75 million in the initial public offering for its expanding television slate here.

Subsid Sugar Entertainment is shooting "First Wave," a 22-episode, hourlong drama series for USA Network's Sci-Fi channel exec produced by Francis Ford Coppola and Larry Sugar, and "So Weird," a children's half-hour sci-fi series, in its second season of 26 episodes for the Disney channel, exec produced by Larry Sugar and Henry Winkler.

PAE president Tim Gamble told Daily Variety that the money will be used to fund TV projects and pay down debt.

PAE, formerly Vidatron Entertainment Group, was previously listed only on the Toronto Stock Exchange.