Global music rights group Songtradr is asking shareholders to help fund a chunky acquisition before making its run at the ASX-boards.
Street Talk can reveal Songtradr has put a $US50 million ($64.4 million) pre-IPO raising to investors, offering them new stock at $US20 a share in a deal that would value it at about $US250 million on a pre-money basis, inclusive of employee stock and options.
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Sarah Thompson has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones. Email Sarah at sarah.thompson@afr.com
Anthony Macdonald is a Chanticleer columnist. He is a former Street Talk co-editor and has 10 years' experience as a business journalist and worked at PwC, auditing and advising financial services companies. Connect with Anthony on Twitter. Email Anthony at a.macdonald@afr.com
Tim Boyd is a journalist, based in Sydney, who writes for the Street Talk column. Connect with Tim on Twitter. Email Tim at tim.boyd@afr.com
