FaceBank Group, Inc. (d/b/a fuboTV) (OTCQB: FUBO) has entered into a Purchase Agreement with Credit Suisse Capital LLC to which fuboTV sold 2,162,163 shares of the Company´s common stock at a purchase price of USD 9.25 per share, for an aggregate purchase price of USD 20,000,007.75, the company said.
There were no underwriting discounts or commissions.
To date in 2020, fuboTV has strengthened its balance sheet with over USD 46 million in funding from institutional and private investors. As previously disclosed, the Company intends to continue to raise capital to support growth strategies and fund operation.
fuboTV merged with FaceBank Group in April 2020 to create a digital entertainment company, combining fuboTV´s direct-to-consumer live TV streaming platform for cord-cutters with FaceBank´s technology-driven IP in sports, movies and live performances.