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IPO Profile: Townsquare Media Inc

Company Details

Location: 240 Greenwich Avenue, Greenwich, Connecticut 06830

Phone: (203) 861-0900

Website: http://www.townsquaremedia.com

Business Description: Provides diversified media, entertainment and digital marketing services

Investment & Return Details

VC backers: GE Capital, Oaktree Capital Management, L.P., MSD Capital Management

Investment Dates: 09/29/1993, 10/01/1993, 03/30/1994, 04/01/1994, 08/15/1994, 05/19/1995, 10/01/1995, 04/01/1997, 10/01/1998, 04/29/1999, 06/21/1999, 12/07/1999, 11/21/2001, 08/13/2010, 11/01/2010, 06/15/2011, 09/01/2011, 04/30/2012, 08/10/2012, 03/03/2013, 08/30/2013, 11/26/2013

Total Funding To Date (USD Mil): $151.11

Value of VCs’ shares at IPO price (USD Mil): $171.70

Total return to VCs at IPO price: 1.14x

Shares Beneficially owned by VCs at Offering:

  • GE Capital: 3,249,370
  • Oaktree Capital Management, L.P.: 10,727,911
  • MSD Capital Management: 1,631,936
  • Total: 15,609,217

Value of VC shares at IPO price (USD Mil):

  • GE Capital: $35.74
  • Oaktree Capital Management, L.P.: $118.01
  • MSD Capital Management: $17.95
  • Total: $171.70

IPO Details

Primary Exchange: NYSE

Ticker: TSQ

Time to Exit (Years): 12.7

Date Filed: 06/24/2014

Date Issued: 07/23/2014

Offer Price (USD): $11.00

First Day Closing Price (USD): $10.25

No. of Shares Offered + Overallot Sold All Mkts: 8,333,333

Proceeds Amt + Overallot Sold All Markets (USD Mil): $91.67

Issuer’s Legal Advisor: Strauss & Troy

Book Runner: Prudential Securities Inc

Source: Thomson Reuters and company prospectus