Afrojack joins CEO Sillerman in ringing Nasdaq closing bell, but SFX stock drops after IPO
It’s the day EDM finally hit Wall Street. Robert Sillerman’s dance music empire known as SFX Entertainment offered an IPO this morning after acquiring many of the industry’s leaders over the course of its first two years in existence. Being traded on the Nasdaq stock market as SFXE, Sillerman’s juggernaut sold 20 million shares at $13, reaching the higher of the previously approximated $11-$13 range. Over the course of the day it saw a low of $10.64 and a high of $13.39, ultimately settling at $11.89 for a decline of 8.54% by Nasdaq’s 4pm closing bell — which was rung by CEO Robert Sillerman, SFX executives, and, surprisingly, Afrojack.
Stay tuned as Dancing Astronaut will be bringing you the latest in dance music’s Wall Street occupancy as the newly public SFX continues to make NASDAQ home.