logo
Plus   Neg
Share
Email

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 RTTNews Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Member of Congress have reportedly been told President Donald Trump's administration has reached an agreement to put Chinese telecom giant ZTE Corp. back in business. Reports from the New York Times and Reuters said the deal brokered by the Commerce Department would require ZTE to pay a substantial... Delta Air Lines will resume non-stop flights between the U.S. and India next year, almost a decade after it exited the Indian market. The airline said Thursday that its decision to resume non-stop flights from the U.S. to India follows agreements between the U.S. and the governments of the United Arab Emirates and Qatar to address the issue of government subsidies provided to state-owned carriers. Mortgage rates continued their upward trend this week and hit a seven-year high, even as housing demand remained robust. According to data released Thursday by mortgage finance provider Freddie Mac, the 30-year fixed-rate mortgage rose to 4.66 percent in the week ending May 24, from 4.61 percent in the prior week and 3.95 percent a year ago. This is also the highest level since May 5, 2011.
Follow RTT