Yesterday (July 28) the acquisitive music rights firm confirmed the closing of its beforehand introduced enterprise mixture with Roth CH Acquisition II Co. (ROCC), a publicly traded particular objective acquisition firm (SPAC) fashioned by Roth Capital Companions and Craig-Hallum Capital Group.
That mixed firm’s title is Reservoir Media Inc., and it continues to be led by Reservoir’s Founder and Chief Government Officer, Golnar Khosrowshahi.
Khosrowshahi stated: “During the last 14 years, the Reservoir crew has excelled at enhancing the worth of our copyrights and recordings, whereas constructing a various and high-quality catalog and rising our roster. Our super ardour and abilities have pushed Reservoir to carry a daily Prime 10 U.S. market share as reported by Billboard.
“This entry into the general public markets is a testomony to the expansion and vivid future that lies forward throughout the trade.”
“As we concentrate on our development, our itemizing on Nasdaq supplies us the sources to execute on our penetration into rising markets and proceed quickly with our strategic acquisitions.”
Golnar Khosrowshahi, Reservoir
Added Khosrowshahi: “As we concentrate on our development, our itemizing on Nasdaq supplies us the sources to execute on our penetration into rising markets and proceed quickly with our strategic acquisitions. I sit up for our subsequent chapter as a publicly traded firm.”
Reservoir added in an announcement despatched to companions at the moment that the Nasdaq itemizing “represents an essential milestone for our firm as we grow to be the primary U.S.-based publicly traded unbiased music firm and the primary feminine based and led publicly traded music firm within the US”.
Since launching in New York Metropolis in 2007, Reservoir has aggressively expanded each organically and thru acquisition.
Along with opening workplaces in Los Angeles, Nashville, London, Toronto, and Abu Dhabi, the agency has acquired storied indie labels together with Chrysalis Information and Tommy Boy Information.
In whole, Reservoir at the moment represents over 130,000 copyrights and 36,000 grasp recordings with titles courting way back to 1900.
Earlier this month, Reservoir introduced it had grow to be a minority accomplice in Outdustry Restricted, a China-headquartered music rights and advertising and marketing providers firm.Music Enterprise Worldwide