Oaktree-backed Townsquare Media sets terms for $125 million IPO

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Townsquare Media, an Oaktree-backed operator of 312 radio stations in small- and mid-sized markets, announced terms for its IPO on Monday. The Greenwich, CT-based company plans to raise $125 million by offering 8.3 million shares at a price range of $14 to $16. At the midpoint of the proposed range, Townsquare Media would command a fully diluted market value of $394 million.

Townsquare Media, which was founded in 2010 and booked $294 million in sales for the 12 months ended March 31, 2014, plans to list on the NYSE under the symbol TSQ. BofA Merrill Lynch, Jefferies and RBC Capital Markets are the joint bookrunners on the deal. It is expected to price during the week of July 21, 2014.



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.



This article appears in: News Headlines , IPOs

Referenced Stocks: TSQ

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