Stingray aims to sell shares for between $5.50-$6.25 in IPO: Reuters
Stingray Digital Group Inc, a Canadian business-to-business music provider and media company, plans to price its shares between $5.50 to $6.25 in its initial public offering (IPO), according to a term sheet released this week. The proceeds of the IPO, which are expected to total about $120 million, will be used to pay down debt. The company plans to sell up to 13.2 million shares, with private equity investors Novacap and Telesystem to sell up to 9 million shares in a secondary offering.
12 May 2015•1 min read
