Harry Sloan, known in Hollywood for, among other things, leading MGM in the 2000s, and former CBS executive Jeff Sagansky, have priced the initial public offering of their fifth public acquisition vehicle.
Diamond Eagle Acquisition Corp., to be listed on the Nasdaq Capital Market, will aim to raise $400 million, with plans to invest it in companies in technology, media and other sectors. Each unit issued in the Ipo consists of one share of Class A common stock and one-third of one warrant to purchase one share of Class A common stock at an exercise price of $11.50 per whole share.
While it is not under the same microscope, the announcement of Sloan and Sagansky’s latest Ipo plan comes on the same day Uber held a high-profile but disappointing debut as a public company. Shares closed at $41.57, down 8% in an unusual dip for a new issue, which had already been in a conservatively priced initial range.
Diamond Eagle Acquisition Corp., to be listed on the Nasdaq Capital Market, will aim to raise $400 million, with plans to invest it in companies in technology, media and other sectors. Each unit issued in the Ipo consists of one share of Class A common stock and one-third of one warrant to purchase one share of Class A common stock at an exercise price of $11.50 per whole share.
While it is not under the same microscope, the announcement of Sloan and Sagansky’s latest Ipo plan comes on the same day Uber held a high-profile but disappointing debut as a public company. Shares closed at $41.57, down 8% in an unusual dip for a new issue, which had already been in a conservatively priced initial range.
- 5/10/2019
- by Dade Hayes
- Deadline Film + TV
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