logo
Share SHARE
FONT-SIZE Plus   Neg

SFX Entertainment Prices IPO At $13/Share, At Top End Of Estimated Range

SFX Entertainment, Inc. (SFXE), the world's largest producer of live events and entertainment content focused exclusively on electronic music culture, announced the pricing of initial public offering of 20 million shares of common stock at $13 per share, which represents top end of expected range.

In the amended filing with the SEC, the company had expected to price the initial public offering of 4.65 million common shares of between $11.00 and $13.00 per share.

The New York based company shares are expected to begin trading on the NASDAQ Global Select Market under the ticker symbol "SFXE" on October 9, 2013.

SFX, which was founded in 2011, has granted the underwriters a 30-day option to purchase up to 3 million additional shares at the initial public offering price less the underwriting discount to cover over-allotments, if any.

UBS Securities LLC, Jefferies LLC and Deutsche Bank Securities Inc. are acting as joint book-running managers for the offering, and Stifel, Nicolaus & Company, Incorporated and BTIG, LLC are acting as co-managers.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
French car maker Renault SA reported Friday higher profit in its fiscal 2015, with strong growth in automotive profit and revenues. The company announced higher dividend. Looking ahead, for fiscal 2016, Renault expects to increase group revenues at constant exchange rates and improve group operating margin. Shares of Rolls-Royce Holdings Plc were gaining around 13 percent in the morning trading in London after the engine maker reported more-than doubled profit in its fiscal year 2015, with lower one-time items. Underlying earnings were hurt by weakness in Marine markets. Further, the company halved its dividends, and still expects lower revenues next year. German steel giant ThyssenKrupp AG reported a loss in its first quarter, compared to last year's profit as sales and orders were hurt by sharp deterioration in materials businesses. The company said its overall performance in the first quarter was within its full-year forecast corridor. Looking ahead, the company continues to expect higher net income and flat sales for fiscal 2016.
comments powered by Disqus
RELATED NEWS
Trade SFXE now with 
Follow RTT