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Legend 3D Closes $10M Series C Stock Offering

Legend 3D, the San Diego based business that converts two-dimensional film to three-dimensional formats, closed on a $10 million Series C stock offering, led by current investors, Northwater Capital Management Inc. of Toronto and Monaco-based Augustus Ventures Limited.

The company said the funds will be used for a “rapid expansion of capacity by setting up a third facility in a cost-advantaged jurisdiction.”

Legend 3D disclosed no further information about what sites it’s considering for such a facility.

Founded in 2001, Legend 3D operates a production studio in Carlsbad, and a state-of-the-art 3-D review hub in Hollywood.

The firm said it’s seeing a substantial increase for the demand for its services in the next 18 months and has to build capacity to ensure it maintains its reputation for on-time delivery and high quality.

By expanding to a third facility the company said it will potentially double its production capacity by the third quarter of 2015, said Legend 3D CEO Brian Robertson.

The company said it recently partnered with Marvel/ Columbia Pictures, Sony, Warner Brothers, Paramount, Disney and BBC Films on major films.

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