On Monday, December 5, 2016, Wizard World, Inc. announced that they have entered a financing agreement with Bristol Investment Fund, one of the largest shareholders and long term investors. The comic and pop culture convention runners will use the net proceeds to provide working capital for current events and the creation of new opportunities.

Paul Kessler, a financier and investor is serving as the portfolio manager of Bristol and is the chairman of Wizard World. “I have been involved in the day-to-day operations of Wizard World since late spring with a focus on operations, strategy, internal controls, and governance,” Kessler said. “With the guidance of our external legal and financial advisors, which include Lucosky Brookman LLP, Olshan Frome Wolosky LLP, DLA Piper, Freeh Group International Solutions, LLC, Redwood Capital, and Brio Financial Group each of whom we acknowledge and to whom we express gratitude, we have made, and continue to make, progress in each of these areas. I believe we have assembled a highly-regarded and exceptionally qualified management team during this time of transition. The financing by Bristol provides a solid fiscal foundation enabling the company to drive toward future success by focusing on the existing business as well as some new business extensions. We have great plans on the table for Wizard World.”

Wizard World has 16 conventions planned for 2017. “The investment by Bristol insures the company’s ability to aggressively move forward into 2017, and beyond. The second half of 2016 was a reset and rebuilding period during which the company moved aggressively to professionalize its operations and systems while containing costs and greatly enhancing the entertainment value at its shows,” John D. Maatta, President and CEO of Wizard World, said. “The company is being actively converted from a “mom and pop” road show carnival culture into a significant live event and entertainment company. While continuing to revamp the existing business operations, the company, during the first two quarters of 2017, plans to move into new vertical brand extensions designed and contemplated to compliment and grow the existing business. We have cut costs, restructured the executive roster, and reimagined the core nature of the company. In a material break from the past, the company is now operated professionally, by professionals in the entertainment space”

Maatta continued, “With the new investment in the company comes the renewed commitment and continuing obligation that we all have to do everything that we can do as a company to enhance value for the shareholders, produce extraordinary events for the fans, while respecting our employees and enhancing revenue and aggressively containing costs. It is a new and very positive day at Wizard World.”