FOTV Media Networks, an interrelated group of digital media companies which produces and distributes hologram, VR, 360 and premium Hollywood content globally, has announced the launch of its initial public offering (IPO) of a minimum of 2.5-3.75 million shares at USD 8.00 per share.

FOTV said it will use the money raised to finance acquisitions or investments in internet video content and complementary businesses, to accelerate marketing and promotional activities to improve its advertising sales and brand awareness, and for general corporate purposes.

FOTV expects the offering to close in September 2016, subject to a number of closing conditions, with shares will set to start trading shortly after closing.

FOTV's current operations are conducted through four primary operating subsidiaries, namely FilmOn.TV Networks, Hologram USA FOTV Productions, CinemaNow and OVGuide.