Libsyn Announces Closing of AdvertiseCast Acquisition and $25 Million Equity Financing

PITTSBURGH — Liberated Syndication Inc. (OTCQB:LSYN) (“Libsyn” or the “Firm”), the {industry}’s main podcast internet hosting platform, at this time introduced it has closed the beforehand introduced acquisition of AdvertiseCast, LLC (“AdvertiseCast”).

“We consider AdvertiseCast, a market chief in podcast promoting, is an ideal match with Libsyn’s technique to supply unbiased podcasters strong instruments. Along with host-read and programmatic promoting, we’ve got recognized much more synergies between our respective buyer bases that may create extra upside for robust monetization options.”

The consideration at closing consisted of $30 million, of which $18 million was paid in money; $10 million within the type of newly issued Libsyn shares; and $2 million within the type of an earn-out, which is topic to the phrases and situations of the acquisition settlement. AdvertiseCast Co-Founders Trevr Smithlin and Dave Hanley will stay with AdvertiseCast and function Chief Innovation Officer and Chief Income Officer, respectively.

Libsyn President Laurie Sims said, “We consider AdvertiseCast, a market chief in podcast promoting, is an ideal match with Libsyn’s technique to supply unbiased podcasters strong instruments. Along with host-read and programmatic promoting, we’ve got recognized much more synergies between our respective buyer bases that may create extra upside for robust monetization options.”

Ms. Sims continued, “Libsyn and AdvertiseCast had the chance to current on the IAB Upfronts held in Could 2021, highlighting exhibits hosted on Libsyn together with purchasers of AdvertiseCast. The IAB reported nearly 7,000 registrants for the three-day occasion, Podcast Upfront’s greatest digital viewers up to now. It’s clear from the reception we acquired that advertisers are smitten by our mixed buyer bases. These synergies will create extra upside to draw advertisers to our platform. This suggestions is per {industry} progress estimates we’re seeing. For instance, IAB initiatives podcasting will see $1 billion in advert income in 2021 and $2 billion in 2023.”¹

AdvertiseCast Co-Founders Trevr Smithlin and Dave Hanley commented, “AdvertiseCast has began 2021 off with a powerful first quarter and our partnership with Libsyn will assist speed up our progress all through {the marketplace}. In working with Laurie and her crew since we introduced the transaction, we’ve got discovered a gaggle of devoted people who find themselves extraordinarily motivated to solidify Libsyn’s place as a market chief within the podcasting house together with the rapidly-growing promoting market.”

Along with the closing of the AdvertiseCast acquisition, Libsyn additionally closed on a non-public placement led by Camac Companions, LLC, which was a pre-existing shareholder, new shareholder Hudson Government Capital, LP, and a number of other different new and current traders. The gross proceeds from the non-public placement have been $25 million.

This press launch doesn’t represent a proposal to promote or the solicitation of a proposal to purchase these securities, nor shall there be any sale of those securities in any jurisdiction through which such provide, solicitation or sale could be illegal previous to the registration or qualification below the securities legal guidelines of any such jurisdiction.

Libsyn was represented by West Arrow LLC who served as unique monetary advisor and Faegre Drinker Biddle & Reath LLP as authorized counsel. AdvertiseCast was represented by Telos Advisors LLC who served as unique monetary advisor and Burns & Levinson LLP as authorized counsel.

About Liberated Syndication

Liberated Syndication Inc. (“Libsyn”) is a world main podcast internet hosting community and has been offering publishers with distribution and monetization providers since 2004. In 2020, Libsyn delivered over 6 billion downloads and hosted over 5.8 million media information from greater than 75,000 podcasts. Podcast producers select Libsyn to measure their viewers through IAB V2 licensed stats, ship common audio and video episodes, distribute their content material by smartphone apps (iOS and Android), and monetize through premium subscription providers and promoting. Libsyn additionally owns Pair Networks, based in 1996, one of many oldest and most skilled Web internet hosting firms, offering a full vary of quick, highly effective and dependable Internet hosting providers.

Go to Libsyn on the net at www.libsyn.com and go to Pair Networks at www.pair.com. Traders can go to the Firm on the “Investor Relations” part of Libsyn’s web site at https://investor.libsyn.com.

About AdvertiseCast

AdvertiseCast, LLC (“AdvertiseCast”) was based in 2016 and combines an industry-leading advert shopping for and administration platform with full-service marketing campaign administration capabilities to scale back the standard friction concerned with podcast promoting. AdvertiseCast’s proprietary software program platform permits easy podcast promoting marketing campaign creation and administration. Main promoting businesses, manufacturers and content material creators use AdvertiseCast to handle profitable campaigns to provide actual outcomes for advertisers, whereas offering most return for publishers.

Go to AdvertiseCast on the net at https://www.advertisecast.com/.

Ahead-Wanting Assertion

This press launch contains statements which can represent forward-looking statements made pursuant to the secure harbor provisions of the Non-public Securities Litigation Reform Act of 1995. Ahead-looking statements will be recognized by way of phrases reminiscent of “anticipate,” “consider,” “may,” “estimate,” “anticipate,” “really feel,” “forecast,” “intend,” “could,” “plan,” “potential,” “predict,” “mission,” “search,” “ought to,” “would,” “will,” and related expressions meant to determine forward-looking statements, though not all forward-looking statements include these figuring out phrases. Ahead-looking statements contained herein could relate to future occasions, together with our monetary efficiency and the combination of AdvertiseCast with Libsyn.

These statements are topic to danger, uncertainties and assumptions as to future occasions and will differ materially from precise future outcomes or occasions. We disclaim any intention or obligation to revise any forward-looking statements whether or not because of new info, future developments or in any other case, besides as required by legislation. There are necessary danger elements that would trigger precise outcomes to vary from these contained in forward-looking statements, together with, however not restricted to, these associated to the outbreak of the coronavirus (“COVID-19”) and the worldwide unfold of COVID-19 throughout 2020 and 2021, our change in enterprise technique in direction of extra heavy reliance upon on our new expertise phase and wholesale channels, our current administration and Board of Administrators modifications, actions of regulators regarding our enterprise operations or buying and selling markets for our securities, the extent to which we’re in a position to develop new providers and markets for our providers, our important reliance on third events to distribute our content material, the extent of demand and market acceptance of our providers and the “Danger Components” set forth in our most up-to-date Annual Report on Kind 10-Okay, Quarterly Experiences on 10-Q and different Securities and Change Fee filings.

¹ https://podcastbusinessjournal.com/iab-projects-2-billion-in-ad-revenue-by-2023/