fuboTV, which offers a live TV sports-first streaming platform, announced terms for its IPO on Thursday.
The New York, NY-based company plans to raise $150 million by offering 15 million shares at a price range of $9 to $11. The company is currently listed on the OTCQB (FUBO) and last closed at $9. Dragoneer Investment Group has indicated interest in purchasing $50 million (33%) of the offering. At the midpoint of the proposed range, fuboTV would command a fully diluted market value of $1.4 billion.
fuboTV merged with FaceBank Group in April 2020. Launched in 2015, fuboTV offers subscribers access to live sporting events annually as well as leading news and entertainment content through streaming devices (SmartTVs, mobile phones, tablets, and computers).
fuboTV was founded in 2009 and booked $181 million in revenue for the 12 months ended March 31, 2020. It plans to list on the NYSE under the symbol FUBO. The company is currently listed on the OTCQB. Evercore ISI, BMO Capital Markets, Needham & Co., and Oppenheimer & Co. are the joint bookrunners on the deal.
