Ok now, the fun is about to start, see below:
JumpTV Files Final Prospectus for IPO
TechFinance.ca News Service
Wednesday August 2, 2006
JumpTV Inc. has filed a final prospectus with regulatory authorities in connection with its initial public offering.
JumpTV intends to issue 12 million common shares at a price of CDN $5.5 or £2.62 per share to raise CDN $66 million in gross proceeds. JumpTV has also granted an over-allotment option of additional 1.8 million common shares to its underwriters.
The offering is underwritten by Morgan Stanley Securities Limited and Canaccord Adams Limited, and in Canada through their respective affiliates, Morgan Stanley Canada Limited and Canaccord Capital Corporation.
The Toronto Stock Exchange (TSX) AIM market of the London Stock Exchange plc (LSE-AIM) have conditionally approved the listing of JumpTV common shares under the symbol "JTV",
Toronto based JumpTV is a subscription-based broadcaster of ethnic television over the Internet as measured by number of channels. It currently has approximately 16,000 subscribers in over 80 countries with 53% of its subscribers residing in the United States and 22% of its subscribers residing in Western Europe.
JumpTV intends to use approximately one-third of the proceeds from the offering for subscriber acquisitions.
For the year ended March 31, 2006, JumpTV reported approximately $1.43 million (unaudited) in revenues, and $8.61 million in net loss.
JumpTV was formed in 2000 by Farrel Miller. In May 2005, G. Scott Paterson, formerly Chairman & CEO of Yorkton Securities Inc., became CEO of JumpTV following the acquisition of a control interest by Paterson from Miller. Paterson has been an investor of JumpTV since January 2002.
Paterson is the single largest shareholder of JumpTV, currently controlling 24.6% of JumpTV.
Since its inception, JumpTV has been funded primarily by private investors, having raised in excess of $16 million in funding in the last two years. |
