The Singing Machine Company, Inc.

General Information
Business:

(Note: This is NOT an IPO. This is a NASDAQ uplisting from the OTCQX. The pricing of the underwritten public offering followed a 1-for-30 reverse stock split, which was effective at 5:30 p.m. on May 23, 2022. Based on the closing price of $0.1865 per share of the Company’s common stock on the OTCQX May 23, 2022, the effective post-split price per share was $5.595. The company’s stock is expected to start trading on the NASDAQ on Tuesday, May 24, 2022.)

We are the leading karaoke consumer products company. We make karaoke machines and accessories for children and adults. Our products include the Carpool Karaoke microphone, for use in the car. The product is made and sold under a three-year license agreement with CBS, the home of “The Late Late Show with James Corden.” Mr. Corden’s Carpool Karaoke with celebrities is one of the show’s most popular features.

The company’s products are sold in over 25,000 locations worldwide, including at well-known retailers such as Amazon, Costco, Sam’s Club, Target, and Walmart. As the most recognized brand in karaoke, Singing Machine products incorporate the latest technology and provide access to over 100,000 songs for streaming through its mobile app and select WiFi-capable products. 

*Note: Revenue and net income figures are for the fiscal year 2021 that ended March 31, 2021, according to the prospectus.

(Note: The Singing Machine Company, Inc. upsized its public offering (NASDAQ uplisting) to 1 million shares – up from 784,314 shares in the prospectus – and priced the offering at $4.00 a share – below the assumed public offering price of $5.10.)

 

Industry: Consumer electronics - Karaoke Machines
Employees: 23
Founded: 1994
Contact Information
Address 6301 NW 5th Way, Suite 2900, Fort Lauderdale, FL 33309
Phone Number (954) 596-1000
Web Address http://www.singingmachine.com/
View Prospectus: The Singing Machine Company, Inc.
Financial Information
Market Cap $8.04mil
Revenues $45.8 mil (last 12 months)
Net Income $2.2 mil (last 12 months)
IPO Profile
Symbol MICS
Exchange NASDAQ
Shares (millions): 1.0
Price range $4.00 - $4.00
Est. $ Volume $4.0 mil
Manager / Joint Managers Aegis Capital Corp.
CO-Managers -
Expected To Trade: 5/24/2022
Status: Priced
Quiet Period Expiration Date:
Lock-Up Period Expiration Date:
SCOOP Rating
Rating Change