Reservoir Media is today (July 29) a public company and is listed on the Nasdaq in the US under the ticker RSVR.
Yesterday (July 28), the acquiring music rights company confirmed the completion of its previously announced merger with Roth CH Acquisition II Co. (ROCC), a publicly traded special purpose vehicle (SPAC) founded by Roth Capital Partners and the Craig-Hallum Capital Group.
The name of the combined company will be Reservoir Media Inc. and will continue to be run by Reservoir’s founder and chief executive officer Golnar Khosrowshahi.
Khosrowshahi said, “Over the past 14 years, the Reservoir team has excelled by adding value to our copyrights and recordings while creating a diverse and high quality catalog and adding to our list. Our tremendous passion and skills have led Reservoir to maintain a regular top 10 market share in the US, as reported by Billboard.
“This entry into the public markets is evidence of the growth and bright future that the industry has ahead of us.”
“As we focus on our growth, our listing on Nasdaq gives us the resources to advance our penetration into emerging markets and to move forward with our strategic acquisitions.”
Golnar Khosrowshahi, reservoir
Khosrowshahi added, “As we are focused on growth, our listing on Nasdaq gives us the resources to advance our penetration into emerging markets and expeditiously pursue our strategic acquisitions. I’m looking forward to our next chapter as a listed company. “
Reservoir added in a statement sent to partners today that being listed on Nasdaq is “an important milestone for our company as we become the first publicly traded independent music company based in the United States and the first publicly traded music company founded and run by women.” become”.
Since its founding in New York City in 2007, Reservoir has grown aggressively, both organically and through acquisitions.
In addition to opening offices in Los Angeles, Nashville, London, Toronto and Abu Dhabi, the company has acquired well-known indie labels such as Chrysalis Records and Tommy Boy Records.
Reservoir now represents over 130,000 copyrights and 36,000 master recordings with titles that date back to 1900.
Earlier this month, Reservoir announced that it had become a minority partner of Outdustry Limited, a China-based music rights and marketing services company.Music business worldwide