Courtside Group, a podcast producer and publisher being spun out of LiveOne, is expected to begin trading on the Nasdaq today, September 8, 2023, according to a press release issued yesterday. It plans to list under the symbol PODC.
The Beverly Hills, CA-based company's shares are expected to open for trading at a minimum of $8 per share, per the press release.
The Registered Stockholders, which include parent LiveOne (Nasdaq: LVO) as well as management, had registered 10.3 million shares. LiveOne also planned distribute an additional 4.3 million shares as a special dividend to its stockholders in connection with the spin-off.
Operating as PodcastOne, the company is a podcast platform and publisher that makes its content available to audiences via all podcasting distribution platforms, including its website, Apple Podcasts, Spotify, and Amazon Music, among others. The company also produces vodcasts (video podcasts), branded podcasts, merchandise, and live events on behalf of talent and clients. PodcastOne sees 350 episodes produced weekly, with 5.2 million unique downloads a month in the US and 32.7 million streams and downloads globally.
There are no underwriters on the deal; instead, Roth Capital served as financial advisor.
