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Electronic music event producer SFX Entertainment sets terms for $200 million IPO
By: Renaissance Capital
SFX Entertainment, a producer of live events and entertainment
content focused exclusively on electronic music culture,
announced terms for its IPO on Wednesday. The New York, NY-based
company plans to raise $200 million by offering 16.7 million
shares at a price range of $11 to $13. At the midpoint of the
proposed range, SFX Entertainment would command a fully diluted
market value of $1.1 billion.
SFX Entertainment, which was founded in 2011 and booked $185 million in sales (pro forma for acquisitions) for the 12 months ended June 30, 2013, plans to list on the NASDAQ under the symbol SFXE. SFX Entertainment initially filed confidentially on November 13, 2012. UBS Investment Bank, Jefferies and Deutsche Bank are the joint bookrunners on the deal.