Warner Music Group launches its IPO – we’ve been filleting the filing

Warner Music Group’s initial public offering launches today, with the music group offering 70m shares in a public offering whose price is expected to be between $23 and $26 per share. “The offering consists entirely of secondary shares to be sold by Access Industries, LLC and certain related selling stockholders,” explained WMG in its announcement. “The underwriters will have a 30-day option to purchase up to an additional 10,500,000 shares of Class A common stock from the selling stockholders. The Company will not receive any proceeds from the offering”…


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