BofA, Jefferies, RBC Capital, Guggenheim, Macquarie assisted with sale
By Devika Patel
Knoxville, Tenn., Aug. 20 – Townsquare Media, Inc. said the underwriters for its initial public offering of stock opted to exercise the deal’s $13.75 million greenshoe in part for total proceeds of $98.16 million. The deal priced for $91.67 million with the greenshoe on July 24.
The company sold 8,923,333 class A common shares at $11.00 per share. Of the shares, 590,000 were part of the partially exercised greenshoe.
BofA Merrill Lynch, Jefferies, RBC Capital Markets, Guggenheim Securities and Macquarie Capital were the joint bookrunning managers.
The media, entertainment and digital marketing services company is based in Greenwich, Conn. The shares will be listed on the NYSE exchange under the symbol “TSQ.”
| Issuer: | Townsquare Media, Inc.
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| Issue: | Class A common stock
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| Amount: | $98,156,663 (including $6.49 million greenshoe)
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| Shares: | 8,923,333
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| Price: | $11.00
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| Warrants: | No
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| Bookrunners: | BofA Merrill Lynch, Jefferies, RBC Capital Markets, Guggenheim Securities and Macquarie Capital
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| Pricing date: | July 24
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| Settlement date: | Aug. 20
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| Stock symbol: | NYSE: TSQ
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