Yesterday (July 28) the acquisitive music rights company confirmed the closing of its previously announced business combination with Roth CH Acquisition II Co. (ROCC), a publicly traded special purpose acquisition company (SPAC) formed by Roth Capital Partners and Craig-Hallum Capital Group.
That combined company’s name is Reservoir Media Inc., and it continues to be led by Reservoir’s founder and Chief Executive Officer, Golnar Khosrowshahi.
Khosrowshahi said: “Over the last 14 years, the Reservoir team has excelled at enhancing the value of our copyrights and recordings, while building a diverse and high-quality catalog and growing our roster. Our tremendous passion and skills have driven Reservoir to hold a regular Top 10 U.S. market share as reported by Billboard.
“This entry into the public markets is a testament to the growth and bright future that lies ahead within the industry.”
“As we focus on our growth, our listing on Nasdaq provides us the resources to execute on our penetration into emerging markets and continue rapidly with our strategic acquisitions.”
Golnar Khosrowshahi, Reservoir
Added Khosrowshahi: “As we focus on our growth, our listing on Nasdaq provides us the resources to execute on our penetration into emerging markets and continue rapidly with our strategic acquisitions. I look forward to our next chapter as a publicly traded company.”
Reservoir added in a statement sent to partners today that the Nasdaq listing “represents an important milestone for our company as we become the first U.S.-based publicly traded independent music company and the first female founded and led publicly traded music company in the US”.
Since launching in New York City in 2007, Reservoir has aggressively expanded both organically and through acquisition.
In total, Reservoir today represents over 130,000 copyrights and 36,000 master recordings with titles dating as far back as 1900.
Earlier this month, Reservoir announced it had become a minority partner in Outdustry Limited, a China-headquartered music rights and marketing services company.Music Business Worldwide