NEW YORK (CelebrityAccess) — New securities filings have revealed that Toronto-based Catalyst Capital Group were the investor who provided Robert Sillerman's SFX Entertainment with a $20 million dollar capital infusion last week.
The Canadian private equity firm describes itself as specialists in making "investments in distressed and undervalued" situations. Their portfolio includes current and past investment in other entertainment companies, including Sonar Entertainment, Canadian media company Canwest, IMAX and Hollywood-based Relativity Media, who received approximately $170 million in financing from Catalyst last summer.
SFX says they will use the money to fund continuing operations and the news of the deal with Catalyst brought the company's share price up to 12.4 cents, but the company is nowhere near the 1 dollar minimum share price they need to sustain for 10 consecutive days to avoid being delisted from the NASDAQ on April 12th. – Staff Writers