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SoundCloud Attempting Last-Ditch Reorganization

  • Axios, Friday, August 11, 2017 2:13 PM
With its future at stake, streaming music firm SoundCloud is demanding that existing shareholders accept or reject a reorganization proposal by the end of the week. “If accepted, then the new investment -- $169.5 million at a $150 million pre-money enterprise valuation -- also closes [Friday]," Axios reports. “If rejected, then CEO Alexander Ljung suggests the company would not be able ‘to continue as a going concern.’

Read the whole story at Axios »

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