Yesterday, SFX Entertainment CEO Robert FX Sillerman, along with Afrojack and fellow SFX Executives, rang the Nasdaq closing bell, ending the first day of trading for the newest member of Wall Street. SFX Entertainment’s IPO (initial public offering) was priced at $13 a share and fluctuated between a low of $10.64 and a high of $13.39 before ending the trading day at $11.89. The IPO is believed to have generated over $260 million for SFX Entertainment, with the company being valued at over $1.05 billion according to The New York Times. The IPO also generated stronger interest than was originally planned, selling 20 million shares, 3.3 million more than anticipated.
SFX Entertainment owns the company that put on the incredibly successful debut of TomorrowWorld. It is also in talks to acquire Made Events, the company behind Electric Zoo. The majority IPO revenue will be used to continue SFX’s torrid acquisition pace according to sources. SFX Entertainment is trading under the symbol: SFXE.