FOTV Media Networks, which provides live and on-demand video streaming services, announced terms for its IPO on Tuesday.
The Beverly Hills, CA-based company plans to raise a maximum of $30 million by offering 3.75 million shares at a price of $8. At the proposed price, FOTV Media Networks would command a fully diluted market value of $346 million. The offering is marketed on a "best efforts" basis and is therefore excluded from our IPO stats.
FOTV Media Networks was founded in 2007 and booked $14 million in sales for the 12 months ended March 31, 2016. It plans to list on the Nasdaq under the symbol FOTV. It filed confidentially on November 13, 2015, with a proposed deal size of $115 million. Bonwick Capital and Network 1 Financial Securities are the joint bookrunners on the deal. IPO timing has not been announced.
