John Hendricks’ CuriosityStream Enters Into $331M Reverse Merger to Become a Publicly Traded Company
CuriosityStream, the nonfiction streaming company headed by Discovery Channel founder John Hendricks, is going public through a reverse merger with a firm set up to execute just such a roll-up deal.
CuriosityStream is combining with Software Acquisition Group Inc., a special purpose acquisition company that raised about $150 million in November 2019. The merger is valued at $331 million, with the new entity carrying an equity value of approximately $512 million, according to the companies.
Technically, Software Acquisition Group is acquiring CuriosityStream (and the new company will adopt the CuriosityStream name). Following the deal closing, Hendricks will remain chairman as well as the combined company’s largest shareholder.
CuriosityStream is combining with Software Acquisition Group Inc., a special purpose acquisition company that raised about $150 million in November 2019. The merger is valued at $331 million, with the new entity carrying an equity value of approximately $512 million, according to the companies.
Technically, Software Acquisition Group is acquiring CuriosityStream (and the new company will adopt the CuriosityStream name). Following the deal closing, Hendricks will remain chairman as well as the combined company’s largest shareholder.
- 8/11/2020
- by Todd Spangler
- Variety - TV News
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