Film Roman Drops Price of Public Offering

Film Roman Inc., the North Hollywood television animation firm that produces “The Simpsons,” has lowered the price of its proposed initial public offering amid an uncertain market for IPOs.

In an amended registration statement filed with the Securities and Exchange Commission, Film Roman said it is now offering 3.3 million shares of common stock at between $9 and $11 a share.

Previously, the company had expected a $10-to-$12-per-share offering price.

At the current expected price range, between $29.7 million and $36.3 million would be raised in the stock sale. Of the total shares, 24,636 are being offered by existing stockholders, including company founder and chief executive Phil Roman.

Film Roman is a highly regarded animation producer that has managed to survive as an independent firm in a business that is increasingly dominated by major movie studios. It has also produced “Felix the Cat,” “Garfield and Friends” and “Bobby’s World.” It recently started work on a new series, “Blues Brothers: The Animated Series,” for the UPN network.

The company said it plans to use the proceeds from the stock sale to redeem and pay dividends on preferred stock, repay debt and fund production.