SFX Files for $175 Million IPO

SFX is pursuing an IPO.

Robert Sillerman’s entertainment empire SFX Entertainment has reportedly filed with the Securities and Exchange Commission seeking to raise up to $175 million in an initial public offering.

The capital raised by an IPO would enable SFX to push on with its expansion in the EDM space.

SFX has been on an impressive EDM-acquisition spree. In recent months, SFX made a play to become one of the most important players in the North American festivals market when it struck deals for Voodoo Experience and ID&T – recognized as the largest dance-event promoter in the world.

And in a blockbuster agreement worth an estimated $50 million, SFX in February acquired Denver-based Beatport, its first multi-media pick-up.

Sillerman announced last June that he would spend $1 billion acquiring EDM entities, starting with regional promoter Disco Donnie Presents and paintball party-throwers Life in Color.

The IPO is understood to be underwritten by UBS Investment Bank, Barclays and Jefferies. No pricing has been announced and the number of shares being offered in the IPO hasn’t disclosed.
The company would trade under the symbol SFXE.