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fuboTV Inc. (FUBO) Enters into At-The-Market Common Stock Sales Agreement

Friday, August 13, 2021 08:57 AM | Carl Pettit
fuboTV Inc. (FUBO) Enters into At-The-Market Common Stock Sales Agreement

What’s Going on with fuboTV Inc.?

Today, August 13, the sports-focused live TV streaming service fuboTV Inc. (FUBO) entered into an at-the-market (ATM) common stock sales agreement. Listed firms use ATMs to sell newly issued shares incrementally through a broker-dealer to raise a certain amount of capital over an extended period of time. Before market open this morning, FUBO stock dropped 3.96% in value, down to $30.31 a share.

What Does This Mean for FUBO?

On August 10, 2021, fuboTV had a bunch of good news to report. The streaming service announced that it had earned a record $130.9 million in revenue during the second quarter of 2021, in addition to gaining 91,291 new net subscribers, with 681,721 subscribers overall. Customer engagement also saw a big boost, with clients streaming 245 million hours of content during the second quarter of 2021.

Today, fuboTV Inc. (FUBO) entered into a Sales Agreement with Evercore Group L.L.C., Needham & Company, LLC and Oppenheimer & Co. Inc. These companies will act as sales managers for fuboTV Inc. and may “from time to time, sell shares of its [FUBO] common stock, par value $0.0001 per share, having an aggregate offering price of up to $500.0 million through the managers.” The sales managers will use an at-the-market method to periodically sell shares of fuboTV Inc. common stock, according to instructions coming from the company.

Sentiment Score - ,bullish

Fubotv Inc has a Bullish sentiment reading. Find out what this means for you and get the rest of the rankings on FUBO!

FuboTV Inc is a sports-first, live TV streaming company, offering subscribers access to tens of thousands of live sporting events annually as well as news and entertainment content. Its platform, fuboTV, allows customers to access content through streaming devices and on SmartTVs, mobile phones, tablets, and computers. The company offer subscribers a live TV streaming service with the option to purchase incremental features available for purchase that include additional content or enhanced functionality (Attachments) best suited to their preferences.

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