Of course, those are monster tracks — which means they also have monster price tags. But Hipgnosis is betting that the long-term annuities will easily beat the upfront costs (and so do Hipgnosis’ investors).
So far is just shy of $450m, giving Mercuriadis lots of new funds to acquire rights. The latest funding was raised via a sale of shares to a small number of private investors. The sale was worth 40.7% of HSFL’s ordinary share count.
The funding round was over-subscribed, with Mercuriadis initially only seeking $130m (£100m) in funding.
HSFL is trading on the London Stock Exchange. Mercuriadis has previously stated his goal is to raise £1 billion ($1.3m) within three years.