Liberum acted as Financial Adviser to Songtradr Inc on the £19.4 million recommended cash offer for 7digital plc
We are pleased to announce that Liberum has acted as sole financial adviser to Songtadr Inc (“Songtradr”), one of the world's largest B2B music licensing companies, on its successful acquisition of 7digital plc (“7digital”) by way of a recommended cash offer.
Songtradr delivers music solutions to music rights holders as well as brands, agencies, digital platforms and content creators. The Songtradr platform is a B2B music licensing marketplace and its technology is designed to connect music rights holders such as artists, labels, and publishers with brands, advertisers, video games, digital platforms and content creators. The acquisition of 7digital provides Songtradr with a complementary business enhancing its platform, music catalogue, technology, customer relationships and ability to monetise music rights.
The acquisition valued each 7digital share at 0.695p and the share capital of 7digital at £19.4 million on a fully diluted basis. This represented a premium of approximately 105 per cent. to the volume weighted average price of 0.34p per 7digital share for the three-month period prior to announcement of the offer.
Liberum provided strategic, commercial, tactical, negotiating and regulatory advice to the Board of Songradr in connection with the acquisition of 7digital and further acted as broker to acquire a c 11% stake in 7digital through on market purchases to facilitate a successful completion.
Investment Banking – Tim Medak, Kate Bannatyne, Cara Murphy
Execution - Graham Smith, James Cass, Mark O’Hara
Settlements - Mark Proctor, Rob Simpson
Liberum Wealth - Stephen Ozanne, Adam Pickering, Shane Huxster
Legal - Rebecca Gordon, Alice Foster
Compliance - Harriet Blackie, Shivani Ghiraiya