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Thursday, July 18, 2019

iHEART GOES PUBLIC

iHeartMedia went public Thursday, selling shares on the Nasdaq under the symbol IHRT. After Chairman/CEO Bob Pittman and President/COO/CFO Rich Bressler rang the opening bell, it went quickly to $16.45 a share.

iHeart emerged from restructuring on 5/1 and in June, the company decided in June to ditch plans for an IPO and go with the direct stock listing. Under the restructuring iHeart reduce its debt load to $5.75b from $16.1b.

Stock closed at $16.50 with 1.8m shares sold.

NO IPO: iHEARTMEDIA HEADING FOR NASDAQ
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