Diving into the SFX SEC filing: more planned acquisitions, including Made Event, Totem, and i-Motion
Earlier this week, SFX Entertainment announced it would be filing for an initial public offering of $175 million, but there’s a lot more behind such news than meets the eye. We’ve gotten a hold of the Securities and Exchange Commission (SEC) filing (which you can also view yourself in full here), and with a little digging have found quite a few more interesting factoids that come out of this week’s dance music industry news.
In the filing’s prospectus, SFX divulges a number of details regarding their company records that may have been rumored, but never quite confirmed until now. On April 23, 2013, SFX, Made Event, and EZ Festivals (together producers of Electric Zoo) signed term sheets which would indicate that SFX would initially acquire 70% interest in both companies for $20 million in cash and $5 million in stock, and by March 2018, the remaining 30%.
Also, with regards to SFX’s relation to ID&T (promoters of Tomorrowland, TomorrowWorld, and the Sensation brand), Sillerman’s company originally had a 51% controlling stake, but it now appears if all goes according to plan, ownership will increase to an even more controlling 75%.
The other two notable planned acquisitions include a full 100% stake in Australian Totem Group (for $75 million AUD), promoters of Stereosonic Festival, and a 60% stake in i-Motion (for $12 million), the leading promoter and producer of dance music events in Germany.