Shares of MoviePass majority owner Helios & Matheson Analytics Inc. HMNY, +20.00% fell more than 12% late Wednesday after the company said it would sell an unspecified amount of shares in a public offering. Proceeds would be used to increase the company's stake in MoviePass, to support MoviePass operations, or to make acquisitions, among other purposes, the company said. Canaccord Genuity is the deal's sole bookrunner. Earlier this week, Verizon Communications disclosed a large stake in the movie theater-subscription company. Shares of Helios & Matheson ended the regular session down 3.3%.