fuboTV Sells 1M Shares for $2M in Unregistered Offering

TL;DR

**FuboTV just sold 1 million shares for $2M, boosting cash but diluting existing stock.**

AI Summary

fuboTV Inc. entered into a material definitive agreement on December 29, 2023, involving the issuance of 1,000,000 shares of its common stock to an institutional investor. This transaction, which was an unregistered sale of equity securities, generated gross proceeds of $2,000,000 for fuboTV. This matters to investors because it indicates fuboTV is raising capital, which could be used for operations or growth, but also dilutes existing shareholders by increasing the total number of shares outstanding.

Why It Matters

This capital raise provides fuboTV with $2,000,000 in funding, but it also dilutes the ownership stake of current shareholders due to the issuance of new shares.

Risk Assessment

Risk Level: medium — While the capital raise provides funds, the dilution from issuing new shares could negatively impact existing shareholders.

Analyst Insight

A smart investor would monitor fuboTV's upcoming financial reports to see how the $2,000,000 in new capital is being deployed and assess the impact of the share dilution on per-share metrics.

Key Numbers

• $2,000,000 — Gross Proceeds (Amount of cash fuboTV received from the stock sale.)
• 1,000,000 — Shares Issued (Number of new common shares fuboTV sold to the investor.)

Key Players & Entities

• fuboTV Inc. (company) — the registrant issuing shares
• institutional investor (person) — the buyer of the shares
• $2,000,000 (dollar_amount) — gross proceeds from the sale
• 1,000,000 (dollar_amount) — number of shares issued
• December 29, 2023 (dollar_amount) — date of the earliest event reported

Forward-Looking Statements

• fuboTV will use the $2,000,000 proceeds to fund ongoing operations or strategic initiatives. (fuboTV Inc.) — high confidence, target: 2024-12-31
• The issuance of 1,000,000 new shares will result in a slight dilution of existing shareholder ownership. (fuboTV Inc. shareholders) — high confidence, target: 2024-01-02

FAQ

Key Financial Figures

• $0.0001 — ch registered Common Stock, par value $0.0001 per share FUBO New York Stock Excha
• $205,835,000 — 6 Notes"), to exchange (the "Exchange") $205,835,000 principal amount of the 2026 Notes for
• $177,506,000 — principal amount of the 2026 Notes for $177,506,000 in aggregate principal amount of the Co
• $1,000 — period") in which the trading price per $1,000 principal amount of 2029 Notes for each
• $3.8366 — itial conversion price of approximately $3.8366 per share of common stock. The conversi
• $40,000,000 — btedness for borrowed money of at least $40,000,000 (or its foreign currency equivalent), (

Filing Documents

• form8-k.htm (8-K) — 70KB
• ex4-1.htm (EX-4.1) — 995KB
• ex10-1.htm (EX-10.1) — 282KB
• ex99-1.htm (EX-99.1) — 16KB
• ex99-2.htm (EX-99.2) — 353KB
• ex4-1_001.jpg (GRAPHIC) — 2KB
• ex4-1_002.jpg (GRAPHIC) — 2KB
• ex4-1_003.jpg (GRAPHIC) — 2KB
• ex4-1_004.jpg (GRAPHIC) — 3KB
• ex4-1_005.jpg (GRAPHIC) — 2KB
• ex4-1_006.jpg (GRAPHIC) — 3KB
• ex99-1_001.jpg (GRAPHIC) — 4KB
• 0001493152-24-000126.txt ( ) — 2176KB
• fubo-20231229.xsd (EX-101.SCH) — 3KB
• fubo-20231229_lab.xml (EX-101.LAB) — 33KB
• fubo-20231229_pre.xml (EX-101.PRE) — 22KB
• form8-k_htm.xml (XML) — 3KB

01. Regulation FD Disclosure

Item 7.01. Regulation FD Disclosure. On January 2, 2024, the Company issued a press release announcing the closing of the Exchange, a copy of which is attached as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference. The information furnished pursuant to Item 7.01 on this Current Report on Form 8-K, including Exhibit 99.1 attached hereto, shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933 or the Exchange Act, except as expressly provided by specific reference in such a filing. Item 8.01. Other Events. Registration Rights Agreement In connection with the consummation of Exchange, on January 2, 2024, the Company entered into a registration rights agreement (the "Registration Rights Agreement") with Mudrick. Pursuant to the Registration Rights Agreement, the Company agreed to prepare and file with the Securities and Exchange Commission (the "SEC") a resale registration statement under the Securities Act, covering the resale of the 2029 Notes, the shares of common stock issuable upon conversion of the 2029 Notes and shares of common stock otherwise acquired by the Holders (as defined therein) who satisfy certain conditions and timely provide certain information to the Company. Subject to certain exceptions and limitations, the Registration Rights Agreement requires the Company to use commercially reasonable efforts to cause the resale registration statement to become effective under the Securities Act by the date that is 180 days after the date the 2029 Notes are issued and remain continuously effective and usable for a specified period of time. The Registration Rights Agreement requires the Company to indemnify certain holders and their affiliated parties for certain losses arising in connection wit

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. FUBOTV INC. Date: January 2, 2024 By: /s/ David Gandler David Gandler Chief Executive Officer

View Full Filing

View this 8-K filing on SEC EDGAR