Offset was straight out on Wall Street on Monday morning (Aug. 30) to celebrate independent music publishing company Reservoir Media going public.
The rapper, whose group Migos is listed on the company’s roster, literally rang in the celebration with the opening bell at the Nasdaq Headquarters. Founded by Golnar Khosrowshahi, Reservoir Media (RSVR) becomes the first U.S.-based publicly traded independent music company and the first female-founded and -led publicly traded music company in the U.S.
And who else would be there to celebrate these major money moves than Cardi B? The rapper, who’s currently expecting her second child with Offset, also attended and witnessed blue confetti rain down on her husband, Khosrowshahi and investors. “I’m so proud,” she wrote on her Instagram Story.
“This morning, Reservoir rang the @Nasdaq Opening Bell in celebration of our recent IPO. It is both exciting and humbling to take this next step in Reservoir’s journey,” the company wrote on Twitter while sharing photos from the ceremony. “We look forward to all the opportunities this creates, as we deepen our commitment to #investinginentertainment.”
Reservoir Media signed Offset and Takeoff to global publishing deals back in 2017, which represent their individual and collective catalogs. Reservoir Media’s EVP of A&R and Catalog Development Faith Newman was responsible for bringing the rappers to the roster.
The company experienced its first day of trading on the Nasdaq stock exchange on July 29, when its shares took a 4.9% dip after opening at $9.49 and closing at $9.03. On Monday, it opened at $8.40.
See Offset ring in the festivities below.
This morning, Reservoir rang the @Nasdaq Opening Bell in celebration of our recent IPO. It is both exciting and humbling to take this next step in Reservoir's journey. We look forward to all the opportunities this creates, as we deepen our commitment to #investinginentertainment. pic.twitter.com/Gmu0ZGSoQf
— Reservoir (@ReservoirMedia) August 30, 2021
— Nasdaq (@Nasdaq) August 30, 2021