# EDGAR Filing Document

**Accession Number:** 0001824403
**File Stem:** 0001104659-23-030625
**Filing Date:** 2023-3
**Character Count:** 9535
**Document Hash:** 83a0356a9cb91aea9e858e5d122752c7
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001104659-23-030625.hdr.sgml**: 20230309

**ACCESSION NUMBER**: 0001104659-23-030625

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 16

**CONFORMED PERIOD OF REPORT**: 20230309

**ITEM INFORMATION**: Regulation FD Disclosure

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20230309

**DATE AS OF CHANGE**: 20230309

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Reservoir Media, Inc.
- **CENTRAL INDEX KEY:** 0001824403
- **STANDARD INDUSTRIAL CLASSIFICATION:** SERVICES-AMUSEMENT & RECREATION SERVICES [7900]
- **IRS NUMBER:** 000000000
- **FISCAL YEAR END:** 0331

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-39795
- **FILM NUMBER:** 23720281

**BUSINESS ADDRESS:**
- **STREET 1:** 200 VARICK STREET, SUITE 801A
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10014
- **BUSINESS PHONE:** 212-675-0541

**MAIL ADDRESS:**
- **STREET 1:** 200 VARICK STREET, SUITE 801A
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10014

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Roth CH Acquisition II Co
- **DATE OF NAME CHANGE:** 20200911

?xml version="1.0" encoding="utf-8"?

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**WASHINGTON, D.C. 20549**

**FORM 8-K**

**CURRENT REPORT**

**PURSUANT TO SECTION 13 OR 15(d) OF THE**

**SECURITIES EXCHANGE ACT OF 1934**

Date of Report (Date of earliest event reported): **March 9, 2023**

**RESERVOIR MEDIA, INC.**

(Exact name of registrant as specified in its charter)

---

| | | |
|:---|:---|:---|
| **Delaware** | **001-39795** | **83-3584204** |
| (State or other jurisdiction<br> of incorporation) | (Commission<br> File Number) | (I.R.S. Employer<br> Identification No.) |

---

---

| | |
|:---|:---|
| **200 Varick Street**<br> **Suite 801A**<br> **New York, New York** | **10014** |
| (Address of principal executive offices) | (Zip Code) |

---

**(212) 675-0541**

(Registrant's telephone number, including area code)

**N/A**

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

---

| |
|:---|
| Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |

---

Securities registered pursuant to Section 12(b) of the Act:

---

| | | |
|:---|:---|:---|
| **Title of each class** | **Trading Symbol(s)** | **Name of each exchange on which<br> registered** |
| Common stock, $0.0001 par value per share | RSVR | The Nasdaq Stock Market LLC |
| Warrants, each whole warrant exercisable for one share of common stock at an exercise price of $11.50 per share | RSVRW | The Nasdaq Stock Market LLC |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ⌧

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ◻

Item 7.01 Regulation FD Disclosure.

On March 9, 2023, Reservoir Media, Inc., a Delaware corporation (the "***Company***"), made available an investor fact sheet on its website at *https://investors.reservoir-media.com/.* A copy of the investor fact sheet is attached as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated by reference herein.

The information contained in this Current Report on Form 8-K, including Exhibit 99.1 attached hereto, shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "***Exchange Act***"), or otherwise subject to the liabilities of Section 18 of the Exchange Act, nor shall it be deemed incorporated by reference in any filing by the Company with the U.S. Securities and Exchange Commission under the Securities Act of 1933, as amended, or the Exchange Act, unless the Company expressly sets forth by specific reference in such filing that such information is to be considered "filed" or incorporated by reference therein.

Item 9.01 Financial Statements and Exhibits.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(d) Exhibits.**

---

| | |
|:---|:---|
| **Exhibit No.** | **Description** |
| [99.1](tm239074d1_ex99-1.htm) | [Investor Fact Sheet, dated March 9, 2023](tm239074d1_ex99-1.htm) |
| 104 | The cover page from this Current Report on Form 8-K, formatted in Inline XBRL. |

---

**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | | | |
|:---|:---|:---|:---|
|  |  | **RESERVOIR MEDIA, INC.** | **RESERVOIR MEDIA, INC.** |
| Date: | March 9, 2023 | By: | /s/ Golnar Khosrowshahi |
|  |  |  | Name: Golnar Khosrowshahi |
|  |  |  | Title: Chief Executive Officer |

---

## Exhibit 99.1

**Exhibit 99.1**

---

| | |
|:---|:---|
| &nbsp;&nbsp;![GRAPHIC](tm239074d1_ex99-1img001.jpg) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Leading, diversified music publishing and recorded music business • Highly accomplished, respected and award-winning platform • Led by an experienced mgmt. team of music professionals with decades of experience at major music companies INVESTOR FACT SHEET NASDAQ: RSVR \| Q3'FY23 72% Publishing 28% Recording \*For the period ended 12.31.22 First U.S.-based publicly traded and female-founded independent music company Since its founding in 2007, Reservoir has grown to represent over 140,000 copyrights and 36,000 master recordings with titles dating as far back as 1900, and hundreds of #1 releases worldwide. RESERVOIR SNAPSHOT Q3 Financial Performance New York, NY Headquarters ~$400M Market Capitalization 64M Shares Outstanding March 31st Fiscal Year End Overview TTM Revenue Breakout\* Investor Contact: Alpha IR Group - Jackie Marcus or Alec Buchmelter- RSVR@alpha-ir.com INVESTMENT HIGHLIGHTS $54 $66 $77 $9 $14 $31 2020 2021 2022 - Publishing - Recorded Music & Other Revenue ($MM) $35 $47 $64 2020 2021 2022 $23 $32 $41 2020 2021 2022 Gross Profit ($MM) Free Cash Flow ($MM) FINANCIAL SUMMARY Adj. EBITDA ($MM) $32 $35 $40 2020 2021 2022 • Leading Independent Music Company with Proven Platform • Competitive Advantages & Value Enhancement Capabilities • Proven M&A Platform • Evergreen Catalog & Contemporary Hits • Growing Industry, Supported by Powerful Secular Tailwinds • Strong Growth & Operating Leverage Model INDUSTRY & RESERVOIR ORGANIC REVENUE GROWTH Industry Organic Revenue CAGR (1) Wall Street Research Q3'FY23 Q3'FY22 Revenue $29.9M $25.8M Operating Income $4.6M $2.7M Adj. EBITDA $10.9M $8.9M Growing Industry, Supported By Powerful Secular Tailwinds Reservoir Organic Revenue CAGR Fiscal 2018 - 2022 Fiscal 2018 - 2022 7% (1) 15% Reservoir Consistently Outperformed The Industry |

---

---

| | |
|:---|:---|
| &nbsp;&nbsp;![GRAPHIC](tm239074d1_ex99-1img002.jpg) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;232 NEW DEALS CONSIDERED IN FY2022 96 OFFERS MADE 41%1 60 DEALS INTO EXCLUSIVITY 26%1 52 DEALS CLOSED 22%1 220+ M&A Targets in Current Pipeline as of 12/31/22 totaling $2.3B PIPELINE & DEAL FLOW $695M Capital Deployed since inception2 >88% of Acquired Gross Profit Should Fall to Adj. EBITDA3 12% Unlevered IRR since 20074 1 Based on total offers made, deals into exclusivity, and deals closed as a percentage of new deals considered in FY2022, respectively 2. As of 12-31-22 3. For the period FY18-FY22 4. IRR represents a net return on invested capital since inception (2007) by the majority shareholder marking the investment to market upon close of SPAC merger NOTABLE DEALS IN Q3'FY23 Gully Gang's MC Altaf, D'Evil Dion Leroy Clampitt & Stunnah Beatz SECULAR GROWTH DRIVERS Rise of Digital & Availability of Streaming • Digital CAGR: 13% (2010-20) vs. 12% (2020-30) Growth of Paid Streaming Subscribers • Paid Subs CAGR: 49% (2010-20) vs. 11% (2020-30) Growth of Streaming in Emerging Markets • EM to contribute 43% of streaming revenue by 2030 vs. mid-double digits today Expansion of Emerging Music Monetization Platforms • TikTok, Triller, Supernatural, Roblox Increased Government Intervention • Curb piracy and improved monetization rates for content owners Recovery in Process Across Impacted Royalty Streams • Gym/Bars/Restaurants, Synch, Music Releases, Live Music RECORDED MUSIC MUSIC PUBLISHING • 140K+ Copyrights • 97% Catalog retention for over 10 years • No musical composition accounts for more than 3% of revenue • 36K+ Sound recording copyrights • 100% Ownership of Each Master Recording typically • No master recording accounts for more than 9% of Net Label Share INVESTOR FACT SHEET NASDAQ: RSVR \| Q3'FY23 1 2 3 4 5 6 |

---