SFX raises $20 million

Following news of a default on a loan repayment and that the company was  "considering bankruptcy,debt restructuring and asset sales", SFX Entertainment's financial saga moved on with the announcement of new financing. The troubled EDM promoter revealed it has raised $20 million "for itself and certain of its operating subsidiaries, obtaining capital for its working and general corporate purposes." Those were the only details released. More information will be given in an SEC filing that had not been released by midday Friday.

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