Reservoir could be going public via SPAC with $700m+ valuation

Reservoir Media, one of many world’s largest and most acquisitive unbiased music rights corporations, may very well be about to go public.
In keeping with Bloomberg, the New York-headquartered agency is in discussions to merge with Roth Ch Acquisition II Co, a blank-check acquisition entity (generally often called a Particular Goal Acquisition Firm, or SPAC) that trades on the NASDAQ below the ticker ROCCU.

When it introduced the IPO of ROCCU in December, Roth Capital mentioned it could “goal the enterprise companies, client, healthcare, know-how, wellness or sustainability sectors, particularly corporations with enterprise values between $250 million and $1 billion”.
Bloomberg suggests {that a} profitable merger between ROCCU and Reservoir would create an organization valued at greater than $700 million.
Nevertheless, talks are believed to be ongoing and will nonetheless lead to no deal. A Reservoir spokesperson declined to remark when contacted by MBW.

SPACs basically supply a method for public traders to again enterprise capital-like acquisitive entities.
The prevalence of SPACs is rising within the music enterprise. Earlier this month, Center Japanese streaming service Anghami floated on the NASDAQ through a merger with a SPAC, Vistas Media Acquisition Firm Inc., which resulted in a mixed valuation of $220m.
And in February, former Geffen Data boss Neil Jacobson launched a public SPAC with $200 million to spend, now buying and selling on the New York Inventory Alternate. Jacobson’s SPAC is concentrating on companies “which are both straight or not directly linked with the music sector”.

Reservoir Media was based by Golnar Khosrowshahi in 2007, and represents over 130,000 copyrights and 26,000 grasp recordings.
The corporate’s standout acquisitions lately have included its buyout of historic US music publishing home Shapiro Bernstein, which Reservoir introduced in Could 2020.
Because of that acquisition, Reservoir took possession of over 16,000 copyrights, together with songs recorded by The Beatles, Frank Sinatra, Ella Fitzgerald, Judy Garland, Michael Jackson, Edith Piaf, Patsy Cline, Bob Dylan, Carly Simon, Elton John, and lots of extra.
In August 2019, Music Enterprise Worldwide broke the information that Reservoir had acquired the historic catalog of Chrysalis Data, spanning 20,000 recordings.
Reservoir’s roster of energetic writers and producers contains James Fauntleroy, Ali Tamposi, and Jamie Hartman, plus 2 Chainz, Younger Thug, and A Boogie Wit Da Hoodie.
It’s a part of the funding portfolio of Vancouver-based Persis Holdings.Music Enterprise Worldwide

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