The jury is still out on how Robert Sillerman and his SFX Entertainment company will handle EDM, but it looks like they’ll have the funds to run the ship. Early details on their IPO had shares at around $11-$13 per share, and last night Billboard announced that before going public today, SFX has already raised $260 million. They’ve already been pooling funds and acquiring a number of huge EDM entities, including Disco Donnie Presents, Beatport, Life In Color, and ID&T. With investments in Miami’s MMG nightclub, Made Events, and other EDM powerhouses, coupled with this dynamic IPO information (which includes word that SFX has already sold 20 million shares), it looks like the next phase of EDM is underway. For those wondering, SFX will be trading as “SFXE” on the NASDAQ.
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