EXCLUSIVE: Shaun Sanghani’s SSS Entertainment, producer of films such as the upcoming, Al Pacino-starring World War II drama Axis Sally, has closed a $20 million revolving credit facility with Louisiana-based Red River Bank.
SSS Film Capital, a newly created unit, will leverage the new funds for secured and unsecured debt positions on upcoming projects. Founded in 2007, SSS has backed about 30 film and TV titles to date, including King Cobra, the Bruce Willis-starring 10 Minutes Gone and the James Franco-directed The Pretenders.
“I’m thrilled to be partnering with Red River Bank as we continue to grow our slate and move into bigger-budget fare with bigger talent. We all hail from the same community in Louisiana and their values and professionalism reflect my own,” Sanghani said.
Given market uncertainty in the independent sector, he added, the new financial resources will “allow us to operate and invest in both outside positions with better predictability as well as create foundations for projects originating within our production company. The ability to access these funds and use them in conjunction with our current stable of private financiers gives us the flexibility to structure a film in so many different ways.”
Axis Sally, with Al Pacino, based on the true story a woman who unwittingly became the voice of German propaganda targeted to American troops. The film, which is also backed by MoviePass, is in production now in Puerto Rico.
Another SSS war-film credit is Vietnam War drama The Last Full Measure, which stars Sebastian Stan, Samuel L. Jackson, Ed Harris, William Hurt and Christopher Plummer. The portrayal of the real-life heroics of Airmen 1st Class William H. Pitsenbarger to save dozens of lives during the war, was picked up by Roadside Attractions and is slated for a nationwide theatrical release this spring.
“We are excited about the opportunity to work with talented homegrown individuals such as Shaun Sanghani who are making an impact in the film industry,” Red River EVP Bryon C. Salazar said.