Media entrepreneur Robert F.X. Sillerman is dropping more hints about his new venture, and investors are intrigued.

Yesterday, Sillerman recapitalized Gateway Industries — a publicly traded shell company that he just scooped up for $3.6 million — after engineering a 1-for-10 reverse stock split.

Sillerman, along with investment bank Berenson & Co., raised $10.5 million by issuing 940,000 new shares at 53 cents each and another 13.2 million shares at 76 cents.

Gateway has been renamed Function (X) and will trade under the ticker symbol FNCX.

Last week, Gateway shares jumped on the news that Sillerman had taken control. While he didn’t reveal his plans, investors still piled into the stock, sending it soaring from 2 cents a share to $3 — a gain of 25,000 percent. The stock closed yesterday at $2.55.

Sillerman said he planned to use the company as a “new platform for investments in media and entertainment, with a particular emphasis on digital and mobile technology.” Sillerman is said to be developing software for smartphones.