Have you ever heard of Mike Merrill? He’s the guy who offered 100,000 shares of himself for $1 each, selling 929 shares and allowing his investors to decide on facets of his life (including whether or not he should get a vasectomy). Now his story is coming to the big screen and Jason Bateman is not only in the director’s chair, but he’ll star as well.
Before we move on, here’s a quick stock lesson (because I need it, too)!
An initial public offering, or IPO, is the first sale of stock by a company to the public. A company can raise money by issuing either debt or equity. If the company has never issued equity to the public, it’s known as an IPO.
In 2013, Wired wrote about Merrill and his 2008 experiment (that ultimately cost him his girlfriend), in an article called Meet The Man Who Sold His Fate to Investors At $1 A Share, and today, Deadline reports that Fox Searchlight has picked up the rights to said article with Bateman on board.
With Micah Fitzerman-Blue and Noah Harpster (both writers for Amazon’s new series “Transparent”) on board to write the script and their experience with biopics (the team is currently hard at work on the Mister Rogers biopic I’m Proud Of You) and Bateman himself already having some directing experience with his debut Bad Words and the 2015 film The Family Fang (starring Bateman, Nicole Kidman, and Christopher Walken), IPO Man could turn out to be something pretty awesome.
I’m actually looking forward to seeing how Bateman handles directing a film that’s based on true events. Bad Words was admittedly wonky in some places but a solid first effort, and with Bateman’s long history in Hollywood, I’m sure he has some great folks he can turn to for advice if he gets stuck.
No word on when IPO Man will start production but when I know, you’ll know!
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