Nepean Capital, an investment firm, agreed to acquire a 24.9% stake in UFO Moviez, a digital cinema distribution network and an in-cinema advertising platform, for $12.5m. “UFO has faced the severity of the pandemic since March 2020 and stayed committed to its business. This transaction reiterates UFO’s commitment and confidence in future growth. The proceeds will not only provide UFO with the required financial flexibility but also help in accelerating strategic priorities. We value the trust and confidence being placed in us towards creating value for all stakeholders,” Sanjay Gaikwad, UFO Moviez Founder and Managing Director.