Stingray completes $140M IPO; Boyko maintains control

MONTREAL – Stingray Digital Group said Wednesday that it has successfully completed an initial public offering of an aggregate of 22,400,000 subordinate voting shares and variable subordinate voting shares for total gross proceeds of $140 million.The subordinate voting shares and variable subordinate voting shares will begin trading immediately on the Toronto Stock Exchange under the symbols “RAY.A” and “RAY.B”, respectively.In a separate news release, president and CEO Eric Boyko disclosed that he has acquired control over 10,794,285 multiple voting shares, representing approximately 66.2% of the total multiple voting shares outstanding, approximately 22.8% of the total shares outstanding of Stingray and...