FOTV Media Networks ‘largest-ever’ crowd financing IPO
September 21, 2016
Millennial-focused hologram, virtual reality, and premium streaming content platform FOTV Media Networks has announced what it believes to be the largest-ever crowd financing campaign for its initial public offering on Nasdaq.
FOTV and its subsidiaries, which produce and distribute patented hologram shows, virtual reality, live shows, live broadcasts and premium over-the-top streaming content has launched social media, radio and TV spot and infomercial advertisements across all major cable news channels including CNBC, Bloomberg and Fox Business. The paid ads will also air across Sirius XM channels including Howard Stern’s channels and on the talk radio shows of Glenn Beck, Sean Hannity, Rush Limbaugh and others. The ads also appear on all Jet Blue flights and on FOTV’s own broadcasts via cable, satellite and streaming television.
FOTV is also marketing to the 75 million unique monthly users of the group’s sites including FilmOn TV’s 600+ live channels, and via email to 30 million registered users. FOTV is harnessing the power of its networks of social media influencers on Facebook, Instagram, Twitter, SnapChat and YouTube.
The commercials and emails explain the offering—which anyone can buy into—and how FilmOn TV Networks Inc., Hologram USA FOTV Productions Inc. (which controls content for the patented technology behind the famous Tupac Shakur, Michael Jackson and Whitney Houston holograms), CinemaNow, LLC, and OVGuide Inc. work together to form an integrated, millennial-focused digital media network.
“We founded this company in 2007 with the goal of delivering TV to the public when and where they want to consume it,” said FOTV Media Networks CEO Alki David. “We’ve been sticking up for the people’s access to quality TV ever since. And now with this crowd financing campaign, we believe we’re giving the public the chance to invest in the kind of tech IPO they’ve traditionally been shut out of. This is an extensive crowd financing event that gives the public a stake in the future of a fast-growing media company.”
FOTV’s initial public offering is for a minimum of 2,500,000 shares of common stock and a maximum of 3,750,000 shares of common stock at $8.00 per share. These shares will be offered on a ‘best efforts’ basis. On August 12, 2016, FOTV’s registration statement for its initial public offering was declared effective by the Securities and Exchange Commission.
FOTV expects the offering to close on or before October 11, 2016, subject to the receipt of investor commitments for the minimum offering amount and satisfaction of other customary closing conditions, and that its shares will begin trading on the Nasdaq Capital Market under the symbol ‘FOTV’ shortly after closing.