Designed to provide an increased physical production capacity and related filmed entertainment ventures, OddLot Entertainment has closed a $50 million revolving credit facility with J.P. Morgan and Comerica as co-lead arrangers which may be increased to $150 million. The funds are earmarked for several purposes including financing the development and production of current and upcoming projects under the OddLot Entertainment production banner.
Gigi Pritzker, OddLot’s CEO and founder, stated, “We’re so pleased to be in business with J.P. Morgan and our long-time banking partner, Comerica Bank. This arrangement positions the company for growth and we look forward to much activity going forward.”
OddLot is currently co-producing Ivan Reitman’s Draft Day starring Kevin Costner which will be released by Summit Entertainment on April 11, 2014; Mortdecai starring Johnny Depp, Gwyneth Paltrow, Ewan McGregor, Olivia Munn and Paul Bettany which Lionsgate will release; and Jon Stewart’s upcoming directorial debut Rosewater.
OddLot Entertainment is a Los Angeles-based film and television production company that develops, produces, finances and arranges distribution for quality, commercial properties for both the domestic and international markets. In March of 2011, OddLot expanded its footprint into foreign distribution partnering with Nick Meyer to create the foreign sales company Sierra/Affinity. In 2013 OddLot commenced a multiyear, multipicture co-financing and distribution deal with Lionsgate which provides both companies a committed framework to co-produce and distribute films.