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

From the Filing

0001493152-24-000126.txt : 20240102 0001493152-24-000126.hdr.sgml : 20240102 20240102171031 ACCESSION NUMBER: 0001493152-24-000126 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 23 CONFORMED PERIOD OF REPORT: 20231229 ITEM INFORMATION: Entry into a Material Definitive Agreement ITEM INFORMATION: Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant ITEM INFORMATION: Unregistered Sales of Equity Securities ITEM INFORMATION: Regulation FD Disclosure ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20240102 DATE AS OF CHANGE: 20240102 FILER: COMPANY DATA: COMPANY CONFORMED NAME: fuboTV Inc. /FL CENTRAL INDEX KEY: 0001484769 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-MOTION PICTURE & VIDEO TAPE PRODUCTION [7812] ORGANIZATION NAME: 07 Trade & Services IRS NUMBER: 264330545 STATE OF INCORPORATION: FL FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-39590 FILM NUMBER: 24503425 BUSINESS ADDRESS: STREET 1: 1290 AVENUE OF THE AMERICAS STREET 2: NEW YORK CITY: NEW YORK STATE: NY ZIP: 10104 BUSINESS PHONE: (212) 672-0055 MAIL ADDRESS: STREET 1: 1290 AVENUE OF THE AMERICAS STREET 2: NEW YORK CITY: NEW YORK STATE: NY ZIP: 10104 FORMER COMPANY: FORMER CONFORMED NAME: fuboTV Inc. /new DATE OF NAME CHANGE: 20200813 FORMER COMPANY: FORMER CONFORMED NAME: FaceBank Group, Inc. DATE OF NAME CHANGE: 20190930 FORMER COMPANY: FORMER CONFORMED NAME: Pulse Evolution Group, Inc. DATE OF NAME CHANGE: 20190228 8-K 1 form8-k.htm 0001484769 false fuboTV Inc. /FL 0001484769 2023-12-29 2023-12-29 iso4217:USD xbrli:shares iso4217:USD xbrli:shares       UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549       FORM 8-K       CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934   Date of report (Date of earliest event reported): December 29, 2023       FUBOTV INC. (Exact name of registrant as specified in its charter)       Florida   001-39590   26-4330545 (State or other jurisdiction of incorporation)   (Commission File Number)   (IRS Employer Identification Number)   1290 Avenue of the Americas New York , NY 10104 (Address of principal executive offices) (Zip Code)   (212) 672-0055 (Registrant’s telephone number, including area code)   N/A (Former Name or Former Address, if Changed Since Last Report)   Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:   ☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)     ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)     ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))     ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))   Securities registered pursuant to Section 12(b) of the Act:   Title of each class   Trading Symbol(s)   Name of each exchange on which registered Common Stock, par value $0.0001 per share   FUBO   New York Stock Exchange   Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).   Emerging growth company ☐   If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐ &#16