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Howard Hughes Medical Institute
Chevy Chase, MD ,United States
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Moviepass Was Down Last Night Because It Ran Out Of Money
The writing has been on MoviePass’s wall for a long while now, but nothing has really rocked the service’s financial boat — until last night, when service was disrupted because the company ran out of money, and its parent company borrowed an emergency $5 million from the hedge fund Hudson Bay. The last widespread MoviePass outage happened earlier this month In corporate speak: “The $5.0 million cash proceeds received from the Demand Note will be used by the Company to ... Full investment news article