SFX Entertainment Raises $260 Million in IPO Pricing; Company Valued at Over $1 Billion

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 Sets Terms For IPO, Proposed Market Value Puts Company at $1.1 Billion

SFX is offering all of the shares, which will begin trading on NASDAQ under the symbol SFXE.

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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.

SFX IPO: Robert Sillerman's Growing 'EMC' Empire

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.