Fubo TV Announces IPO Launch on New York Stock Exchange

Live sports streaming video platform Fubo TV Oct. 1 announced the launch of its initial public offering (IPO) of 15 million shares of common stock valued upwards of $165 million, or $9 to $11 per share.

The underwriters will have a 30-day option to buy an additional 2.25 million shares of common stock from fuboTV at the public offering price. Fubo TV intends to list its common stock on the New York Stock Exchange (NYSE) under the ticker symbol “FUBO.”

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The SVOD service is hoping to capitalize on the home-bound consumer looking to be entertained during the coronavirus pandemic. At the end of 2019, Fubo TV had 316,000 subscribers, with ad-revenue up 201%. It posted a $246.9 million loss on revenue of $150.8 million. Through March 31, 2020, losses totaled $62.7 million on revenue of $58.3 million.

Roth Capital Partners and Wedbush Securities are acting as co-managers for the proposed offering.

FuboTV Seeks $100 Million via Initial Public Offering

FuboTV, the sports-themed online TV streaming platform offering access to live sports events as well as news and entertainment content, is looking to become a publicly held company through a $100 million initial public offering (IPO).

An IPO or stock market launch is a type of public offering in which shares of a company are sold to institutional investors and usually also retail (individual) investors.

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New York-based FaceBank Co., which owns and operates fuboTV, Aug. 11 filed a registration statement with the U.S. Securities and Exchange Commission (SEC) relating to a proposed follow-on public offering of its common stock.

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FuboTV merged with FaceBank Group in April combining fuboTV’s direct-to-consumer live-TV streaming platform for cord-cutters with FaceBank’s technology-driven IP in sports, movies and live performances. Launched in 2015, fuboTV delivers content through streaming devices, including connected TVs, mobile phones, tablets and computers. The company generated $169 million in revenue for the 12 months ended March 31.