Group Nine Media is launching its initial public offering process today.
The digital media conglomerate last month formed a new entity called Group Nine Acquisition Corp., which is a special purpose acquisition company, or Spac, through which it will conduct its IPO.
SPACs are blank-check companies created solely to raise capital through an IPO for the purpose of acquiring another company -- in this case, Group Nine Media. At the same time, Variety notes that Group Nine has said it plans to acquire other businesses in the digital media space as part of the process, though it hasn’t specified any targets.
Visit Tubefilter for more great stories.
The digital media conglomerate last month formed a new entity called Group Nine Acquisition Corp., which is a special purpose acquisition company, or Spac, through which it will conduct its IPO.
SPACs are blank-check companies created solely to raise capital through an IPO for the purpose of acquiring another company -- in this case, Group Nine Media. At the same time, Variety notes that Group Nine has said it plans to acquire other businesses in the digital media space as part of the process, though it hasn’t specified any targets.
Visit Tubefilter for more great stories.
- 1/15/2021
- by Geoff Weiss
- Tubefilter.com
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