LiveXLive Media Launches Public Offering

BEVERLY HILLS, Calif., Oct. 9, 2017 /PRNewswire/ -- LiveXLive Media, Inc. (OTC: LIVX)("LiveXLive"), one of the only premium networks devoted to live music and music-related video content, will commence a public offering of shares of its common stock. In the offering, LiveXLive is selling 7,692,308 shares of its common stock. The public offering price is expected to be between $12.00 and $14.00 per share (on a post 1-for-3 reverse stock split basis, which LiveXLive intends to complete prior to the completion of the public offering). LiveXLive has granted the underwriters a 30-day option to purchase up to an additional 1,153,846 shares of its common stock. The company has applied to list its common stock on the New York Stock Exchange under the symbol "LXL."

LiveXLive intends to use the net proceeds from the proposed offering to fund working capital, capital expenditures, the acquisition of Slacker, Inc., the acquisition of SNAP Interactive, Inc., and other general corporate purposes, which may include future acquisitions of businesses and content.

BMO Capital Markets is acting as the sole book-running manager for the proposed offering and as representative of the underwriters. JMP Securities is acting as lead manager, and Craig-Hallum Capital Group is acting as co-manager for the proposed offering. The proposed offering will be made only by means of a prospectus. A copy of the preliminary prospectus relating to the proposed offering may be obtained from the representative of the underwriters: BMO Capital Markets at (800) 414-3627 or via email at [email protected].

A Registration Statement on Form S-1, as amended, relating to these securities has been filed with the U.S. Securities and Exchange Commission but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted, prior to the time such Registration Statement becomes effective.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale, would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About LiveXLive Media, Inc.

LiveXLive Media, Inc. ("LiveXLive Media") is home to premier video and audio media brands and technology assets that create a social media ecosystem for music, including the LiveXLive platform ("LiveXLive"). LiveXLive is one of the world's only premium streaming services devoted to live music and music-related video content, delivering live streamed and premium, on demand original content to nearly any internet-connected screen. Since its launch in 2015, LiveXLive has streamed performances from more than 200 of the world's most popular artists from some of music's most popular festivals, including Rock In Rio, Outside Lands Music and Arts Festival, and Hangout Music Festival.

LiveXLive Media's businesses also include event marketing and ticketing platform Wantickets and social media influencer venture LiveXLive Influencers. LiveXLive Media is headquartered in Beverly Hills, CA.

Forward-Looking Statements

All statements other than statements of historical facts contained in this press release are "forward-looking statements." These statements involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements. These factors include uncertainties as to the consummation of the proposed public offering and the proposed acquisitions of Slacker and Snap Interactive, identifying, acquiring, securing and developing content, ability to attract and retain users, successfully implementing LiveXLive Media's growth strategy, including relating to its technology platforms and applications, management's relationships with industry stakeholders, changes in economic conditions, competition, and other risks including, but not limited to, those described in LiveXLive Media's Registration Statement on Form S-1, as amended, and its other filings and submissions with the SEC. These forward-looking statements speak only as of the date hereof and LiveXLive disclaims any obligations to update these statements except as may be required by law.

SOURCE LiveXLive Media, Inc.