Bob Sillerman's SFX Entertainment has raised $260 million on Wall Street ahead if its public market debut on Wednesday (Oct. 9).
SFX raised $260 million on Wall Street ahead if tomorrow's public market debut. The two-year-old EDM business sold more than 20 million shares priced at $13 each valuing the company at more than $1 billion.
SFX is offering all of the shares, which will begin trading on NASDAQ under the symbol SFXE.
UBS Securities LLC, Jefferies LLC and Deutsche Bank Securities Inc. are acting as joint book-running managers. Stifel, Nicolaus & Company, Incorporated and BTIG, LLC are acting as co-managers.
SFX, which is owned by Robert F.X. Sillerman, has acquired or invested in a number of national and international dance music-related companies after Sillerman announced last June that he would spend $1 billion in acquiring EDM entities.
His buying spree has included: Disco Donnie Presents, Life in Color, and ID&T. In February, SFX also acquired Denver-based Beatport for $50 million. Additionally, the company also invested in Made Events; Australian event promoter Totem/OneLove; iMotion; May Day festivals; and an 80% stake in Miami nightclub operators MMG for $16.9 million.