The latest share sales bring the publisher s total fundraising to $328.1 million through its IPO on the London Stock Exchange.
Round Hill Music Royalty Fund Ltd. has sold more shares to raise an additional $46.1 million, the company announced Wednesday (Dec. 16), bringing its total fundraising to $328.1 million through its initial publishing listing on the London Stock Exchange.
The funds raised from the 46.1 million stock offering are intended to buy out assets of a “target” catalog of songs already owned by Round Hill, in its Music Royalty Fund 1, which has some 40 catalogs and includes such iconic songs as What A Wonderful World, She Loves You, Happy Together, Total Eclipse Of the Heart, When A Man Loves A Woman, Stop! In The Name of Love, You Can t Hurry Love, I Feel Good and Santa Baby to somewhat more recent hits like Just The Way You Are (Amazing), Pretty Fly (For A White Guy) and Need You Now.”
IN BRIEF: Round Hill Music Places Further 46 Million Shares After IPO
Wed, 16th Dec 2020 15:25
Round Hill Music Royalty Fund Ltd - private equity firm exclusively dedicated to investments in revenue generating music copyright assets - Has conditionally placed 46.1 million new shares as part of its placing programme, and will be priced at USD1.01. Will have 328.1 million shares in issue after placing programme completes. The programme follows raising USD282.0 million from its initial public offer in London in mid-November. The firm issued 282.0 million shares at USD1.00 each. The board is pleased to announce that the net proceeds of the further issue will ensure that the company has sufficient capital, combined with its ability to utilise gearing of up to 25% of the economic NAV, to acquire all of the pipeline investments as at the June 30 valuation, Round Hill says.