Viggle, the free mobile app that rewards entertainment loyalists for watching TV and listening to music, has announced it has priced an underwritten sale of its common stock worth $4.2 million — or 2,048,780 shares.
Interestingly enough, that sale went to a single investor, the company said.
The offering closed yesterday (June 30), and Viggle noted it will use the proceeds to fund general corporate purposes, without saying what those purposes were. The investor involved in the deal was Ladenburg Thalmann & Co. Inc., a subsidiary of Ladenburg Thalmann Financial Services Inc.
“We are very excited to have completed this financing with one of the preeminent small-cap investors in the market today,” Robert F.X. Sillerman, the company’s CEO said in a news release about the transaction.
Past transactions by Viggle include Wetpaint, a leading entertainment media and technology company focused on television fans, for approximately $30 million in cash and stock. Wetpaint has become a leading destination for TV viewers, and provides original content to over 12 million monthly unique users. Wetpaint provides a way for fans to stay connected with the stars and programs they love 24 hours a day, 365 days a year.
Launched in January 2012, Viggle is a free entertainment rewards platform whose app rewards its members for watching their favorite TV shows or discovering new music. Viggle enhances TV with interactive games like Viggle LIVE and the first ever real-time fantasy sports game, MyGuy.
Viggle members get rewarded for their TV watching and music listening with real rewards, including electronics, trips, exclusive entertainment experiences, gift cards, and more. Viggle also allows like-minded fans of their favorite shows and artists to connect through Viggle social features. Viggle’s audio verification technology recognizes shows on TV and allows members to check into live and DVR’d TV content from more than 180 popular broadcast and cable channels.
[vc_row full_width=”” parallax=”” parallax_image=””][vc_column width=”1/1″][/vc_column][/vc_row][vc_row full_width=”” parallax=”” parallax_image=””][vc_column width=”1/1″][vc_separator color=”grey” align=”align_center” style=”” border_width=”” el_width=””][vc_single_image image=”148412″ alignment=”center” style=”vc_box_shadow_3d” border_color=”grey” img_link_large=”” img_link_target=”_blank” css_animation=”left-to-right” img_size=”full” link=”http://www.pymnts.com/whats-hot-today/”][vc_column_text css_animation=””]
To check out what else is HOT in the world of payments, click here.
[/vc_column_text][vc_separator color=”grey” align=”align_center” style=”” border_width=”” el_width=””][/vc_column][/vc_row]
We’re always on the lookout for opportunities to partner with innovators and disruptors.
Learn More