In a groundbreaking departure from traditional film financing, the Fresh Kills production will be financed by an offering on the Upstream Exchange, which today announced a $3.5 million Initial Public Offering “IPO” of securities by Fresh Kills, Inc.
The film tells the story of the loyal women of an organized crime family that dominated some of the boroughs of New York City in the late 20th century. The screenplay was written by Esposito, and is inspired by life as a young woman growing up in Staten Island, NY. Fresh Kills is produced by Alexis Varouxakis (Good Time) and Christine Crokos (Pimp). Esposito will also serve as a producer, and Jason Weinberg as executive producer.
This will be the first feature film financed and traded by a global group of fan investors via this first-of-its kind IPO on Upstream – the revolutionary Ethereum-powered digital stock exchange powered by Horizon Fintex and MERJ Exchange Limited.
“When I took the concept for Fresh Kills to film financiers and distributors, I was told that financial backing depended on having a male lead in the film, as well as a male director, despite the fact that it is the story of women in the mafia world,” said Esposito. “In addition to lifting up the stories and voices of women, I hope that Fresh Kills will become a social movement. Together with Upstream, we aim to be healthy competition for bigger budget films by mobilizing people to choose character-driven content they can now be part of from the beginning as film investors.”
Apart from purchasing Fresh Kills’ securities, fans in the United States and worldwide can support the Fresh Killsfilm and movement by purchasing “FRESH NFTs” (nonfungible tokens) which feature opportunities related to the film, as well as images, videos, or content from the film, cast and crew. Additionally, accredited investors” in the United States may purchase Fresh Kills’ securities sold in an offering exempt from the registration requirements set forth in the Securities Act of 1933 pursuant to a Regulation D, Rule 506(c) offering.
“We are thrilled to announce both the launch of Upstream and the launch of Upstream’s first fan-driven IPO for Fresh Kills,” said Horizon President Mark Elenowitz. “Our mission to provide everyone with equal access to investment opportunities echoes Fresh Kills’ mission to highlight a funding path for women, minorities, and other groups that are often overlooked in the film industry.”
Horizon CEO Brian Collins adds to this by stating, “Upstream introduces what we believe to be the future of trading, featuring some of the highest levels of transparency, accessibility and investor protections enforced using Ethereum blockchain technology,” he said. “These innovations include direct access to Upstream through the Upstream trading app, best bids and offers displayed on a public order book, advanced design to prevent market manipulations like short-selling, along with FDIC-insured USD accounts.”
Anyone outside the United States and Canada 18 and over may buy the Fresh Kills’ securities through the Upstream app using PayPal, USDC stablecoin, or traditional bank payments. These shares become available to trade with other non-U.S. based investors on the Upstream app after the IPO closes.
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