Major Labels

WMG NASDAQ IPO Today At $25 Share Price

Warner Music Group will debut on the NASDAQ stock exchange Wednesday at a $25.00 IPO share price for 77,000,000 shares of Class A common stock.

The size of the IPO was increased from the previously announced 70,000,000 shares because of strong interest. The underwriters have a 30-day option to purchase an additional 11,550,000 shares.

Warner Music Group will begin trading on the NASDAQ today under the ticker symbol WMG.

The offering consists entirely of secondary shares to be sold by Access Industries and related stockholders.  WMG will not receive any proceeds from the offering. 

Underwriters

Morgan Stanley & Co. LLC, Credit Suisse Securities (USA) LLC and Goldman Sachs & Co. LLC are acting as joint book-running managers and as representatives of the underwriters for the offering.  BofA Securities, Inc., Citigroup Global Markets Inc. and J.P. Morgan Securities LLC are also acting as joint book-running managers. 

Barclays Capital Inc., Evercore Group L.L.C., Guggenheim Securities, LLC, Macquarie Capital (USA) Inc., Nomura Securities International, Inc., RBC Capital Markets, LLC, SunTrust Robinson Humphrey, Inc., CIBC World Markets Corp., HSBC Securities (USA) Inc., SG Americas Securities, LLC; Société Générale, LionTree Advisors LLC, Raine Securities LLC, AmeriVet Securities, Inc. Bancroft Capital, LLC, Blaylock Van, LLC, C.L. King & Associates, Inc., Loop Capital Markets LLC, Roberts & Ryan Investments, Inc., Samuel A. Ra

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