PRNewswire – Title II of the Jobs Act removed the ban on general solicitation and created enormous opportunities for capital formation. Zacks Direct’s latest client leveraging this opportunity is Stepson of the Blues LLC as they seek capital from accredited investors for the production of their movie, The Rhythm and the Blues.
Chicago Celebrates 100 Years of the Blues Genre
The Rhythm and the Blues (TR&TB) is based on the true story of a Mississippi-born family of blues musicians struggling to make it in 1960s-70s Chicago. Signing letters of intent to act in the $1.5 million budget film are Leon, noted for his edgy, nuanced portrayals of music stars such as Little Richard in the movie of that title and David Ruffin in The Temptations; and Guy Davis, master blues musician, songwriter, storyteller, Broadway, film and TV actor, son of the late Ruby Dee and Ossie Davis.
Bonni McKeown, owner-manager of Stepson of the Blues LLC, came to Chicago to study, play, and present blues music. She wrote the script and has fronted the film’s development. “Bringing your dreams to life means having vision and facing reality,” she says. “I love this music and want everyone to see where it comes from.”
Producer-director Darryl Pitts, a Chicagoan who made the documentary Reel Black Love, brings 20-plus years of television and advertising experience to the company. Pitts says, “The authenticity and heart in this film will resonate with audiences universally. Plus, the strong backdrop of blues and soul music has a proven fan base around the world.”
Increasingly Companies Seeking Capital are Taking the Alternative Path
“Since the JOBS Act was passed, we have seen an escalation of interest in companies reaching directly to accredited investors,” says Ann Pichette, EVP, Zacks Direct. “We are thrilled to support the capital raise for The Rhythm and the Blues, even though movies are traditionally considered to be high-risk investments. As a Chicago-based agency, we are psychologically invested in seeing this venture succeed.”
The film company’s operating agreement calls for investors to receive a 20% ROI in three years, after expenses are paid and before any producer recoupments. Depending on negotiated agreements, investors and sponsors (those who provide such services as antique cars or catering) may receive advertisements, product placements, film credits, possible movie cameo appearances, and invitations to special events with the cast.
