Studio Equipment Group to Offer 420,000 Units

Matthews Studio Equipment Group said it plans to raise about $2.5 million through an offering of 420,000 units, each of which will include three common shares.

In a filing with the Securities and Exchange Commission, the Burbank-based company, which makes, sells and rents lighting equipment for the movie industry, said proceeds from the sale would be used for buying equipment, expanding its manufacturing facilities and developing products.

In August, Matthews acquired Hollywood Rental Co. of Sun Valley in a stock swap. Matthews said those combined operations had a net income of $113,512 on sales of $10.7 million for the nine months that ended June 30.