fuboTV secures $20m of financingMonday, July 6th, 2020
fuboTV Secures Over $20M of Financing From Credit Suisse Capital LLC
NEW YORK — FaceBank Group, Inc. (d/b/a fuboTV) (OTCQB: FUBO) has entered into a Purchase Agreement with Credit Suisse Capital LLC to which fuboTV sold 2,162,163 shares of the Company’s common stock at a purchase price of $9.25 per share, for an aggregate purchase price of $20,000,007.75. There were no underwriting discounts or commissions.
To date in 2020, fuboTV has strengthened its balance sheet with over $46 million in funding from institutional and private investors. As previously disclosed, the Company intends to continue to raise capital to support growth strategies and fund operation.
The sale and issuance of the Purchased Shares were made in reliance upon the exemption from registration under Section 4(a)(2) of the Securities Act. The Company sold the Purchased Shares to an “accredited investor” as defined in Rule 501(a) of the Securities Act and did not engage in a general solicitation or advertising with respect to the issuance and sale of the Purchased Shares.