LSYN - Liberated Syndication announces $4.75M in new equity financing

Liberated Syndication (OTCPK:LSYN) raised gross proceeds of $4.75M in a private placement led by Camac Partners along with  other existing shareholders and several new investors. Libsyn sold 1.27M shares of its common stock at a price of $3.75/share. The company also announced that AdvertiseCast revenue exceeded $18M in CY21 which triggers an earnout to the AdvertiseCast members under the purchase agreement; AdvertiseCast, which reported $12M in CY20 revenue, was acquired in June 2021. Post the financing transaction, Libsyn has a cash balance of ~$13M and 27.86M shares issued and outstanding.

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Liberated Syndication announces $4.75M in new equity financing