Company: LiveXLive Media, Inc.
Symbol: LIVX
Description: They are one of the world’s only premium internet networks devoted to live music and music-related video content.
Shares: 7.69 million
Price Range: $12.00-$14.00
Trade Date: 10/19
Underwriter(s): BMO Capital Markets
Co-Manager(s): JMP Securities, Craig Hallum Group
Terms Added: 10-6-17
Update: Motif is now a selling group on this offering.
Update2: The terms of this deal have not been officially re-filed. According to underwriter guidance, the company is seeking to raise $85m with shares being priced at $4.00. The deal is currently in day-to-day status.
Business: They intend to fill a market void by becoming a central content, information and transaction hub for music consumers and industry stakeholders around the world. They are geared for the digital generation, and their mission is to bring the experience of live music and entertainment to internet users by delivering live streamed and on demand content to nearly any internet-connected screen. Their goal is to become a leading destination for premium music video content on the internet by continuing to aggregate and create their content, including through strategic acquisitions. They are also building a proprietary engagement platform that they believe will attract and retain users, which they believe will allow them to collect valuable user data and monetize their growing content library through subscriptions, advertising, sponsorships and e-commerce.
Financials: Their historical consolidated revenue was $225.0 thousand in the year ended March 31, 2017, and zero in the previous year, and their net loss was $14.25 million and $3.75 million, respectively. In the quarter ending June 30, 2017, their combined revenue was $276.2 thousand and their net loss was $2.82 million, compared to no revenue and a $1.80 million loss for the same quarter in 2016. They have incurred significant net losses in each year since their inception, including net losses of $2,815,160 for the three months ended June 30, 2017, and $14,249,719 and $3,746,944 for the fiscal years ended March 31, 2017 and 2016, respectively. As of June 30, 2017, they had an accumulated deficit of $30,911,050.
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