LOS ANGELES, Sept. 17, 2020 /PRNewswire/ — LiveXLive Media, Inc. (Nasdaq: LIVX) (“LiveXLive”), a global platform for livestream and on-demand audio, video and podcast content in music, comedy and pop culture, announced today that it has completed a $15.0 million senior secured convertible note financing with a major existing institutional shareholder.
LiveXLive CEO and Chairman, Robert Ellin, commented, “With LiveXLive experiencing momentum across the core segments of our business, adding $15 million of cash gives us both the liquidity and the balance sheet strength to accelerate some near-term growth opportunities, namely across subscription, distribution, pay-per-view and podcasting. We appreciate the confidence our institutional investor has shown by making this investment in both our management team and business model.”
LiveXLive’s talent-centric platform is focused on providing outsized value to superfans and building long term franchises in audio music, podcasting, OTT linear channels, pay-per-view, and livestreaming. Its model includes multiple