SFX Entertainment Reveals 200 Million IPO With 16.7 Million Shares
“We view [electronic music culture] as a global generational movement driven by a rapidly developing community of avid followers among the millennial generation.”
SFX Entertainment, the electronic music event producers responsible for events like Tomorrowland, Stereosonic, and Electric Zoo, has released terms for its IPO on Wednesday that plans to raise 200 million with 16.7 million shares. Each share will be sold at a range of $11 to $13, and with this range SFX will control a market value of $1.1 billion. In only three years, the mastermind behind SFX, Robert F.X. Sillerman, has successfully managed to collect under the SFX umbrella ID&T (responsible for Tomorrowland and Sensation), Made Events (the group behind Electric Zoo), and Totem One Love Group(creator of the Australian premier festival Stereosonic). SFX expects to use the proceeds from the IPO as funds towards gaining uncompleted acquisitions of the world’s largest electronic dance music brands. Even though SFX has already lost the opportunity to gain Insomniac, the brand behind EDC, to their rival Live Nation, Sillerman still see a promising future for SFX and this IPO. SFX will take under the NASDAQ with the symbol SFXE.