Pop Culture Group, which plans and hosts hip-hop events and programs in China, raised $37 million by offering 6.2 million shares at $6, the high end of the range of $4 to $6. The company offered 0.2 million more shares than anticipated.
Pop Culture Group hosts entertainment events, operates hip-hop related online programs, and provides event planning and execution services and marketing services to corporate clients. In recent years, the company has focused on developing and hosting its own hip-hop events, and it owns a portfolio of intellectual property rights related to hip-hop events, including a stage play, dance competitions or events, cultural and musical festivals, and promotional parties that feature live hip-hop performances in karaoke bars or amusement parks.
Pop Culture Group plans to list on the Nasdaq under the symbol CPOP. Network 1 Financial Securities and Valuable Capital acted as joint bookrunners on the deal.
