Eagle Equity’s 8th SPAC Screaming Eagle Acquisition Prices US$750 Million IPO

Special purpose acquisition company Screaming Eagle Acquisition Corp.(Nasdaq: SCRMU) started trading publicly on the Nasdaq Global Market today. The company is seeking to raise US$750 million in its initial public offering, expected to close on January 10, 2022.

The offering consists of 75.0 million company units priced at US$10.00 per unit. Each unit is composed of one Class A common share and one-third of a purchase warrant. Each whole warrant is redeemable for one Class A common share at US$11.50 per share.

However, US$10.00 per unit will also be deposited into a trust account upon the closing of the offering.

The company units trade on the Nasdaq big board under the symbol “SCRMU”. Once the securities separate, the company shares and warrants will trade under the ticker symbols “SCRM” and “SCRMW”, respectively.

The proposed offering is being managed by Goldman Sachs & Co. and Citigroup as the bookrunners, which the company granted a 45-day over-allotment option to purchase additional 11.25 million company units at the same IPO price.

The blank check company is the eighth public acquisition vehicle led by Eagle Equity Partners’ Harry Sloan, Jeff Sagansky, and Eli Baker, and offered the largest IPO yet among the company-sponsored SPACs. Among the business combinations by its previous blank check companies include: biotech firm Ginkgo Bioworks with Soaring Eagle Acquisition raising US$1.6 billion; gaming tech firm Skillz with Flying Eagle Acquisition for US$3.5 billion acquisition price; and online gaming companies DraftKings and SBTech with Diamond Eagle Acquisition for US$2.7 billion aggregate purchase price.


Information for this briefing was found via Edgar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

Avino Q2 Earnings: Steady As She Goes

MEG Energy: Cenovus Comes In With $7.9 BILLION Offer

Orla Mining Q2 Earnings: Musselwhite Changes Everything

Recommended

Northern Superior Expands Philibert With 350 Metre Step Out Testing 1.10 g/t Gold Over 25.5 Metres

Goliath Resources Hits 18.58 g/t Gold Over 5.00 Metres At Surebet

Related News

NET Power Looks To Change Trend Of Failing SPACs With Novel Power Tech

Companies which have emerged from SPAC merger transactions have at best a spotty record of...

Sunday, May 21, 2023, 09:00:00 AM

Biotech Firm Senti Bio To Be Taken Public In A $601 Million SPAC Merger

Senti Biosciences, Inc., also known as Senti Bio, has announced a business combination agreement with...

Tuesday, December 21, 2021, 04:38:00 PM

Robinhood to Give Retail Investors Direct Access to IPOs

In an effort to further— as Robinhood puts it— “democratize” retail investing, the stock trading...

Saturday, May 22, 2021, 05:06:00 PM

Wellness Firm The Better Being Co. Launches US$213 Million IPO

Whole-body wellness enterprise The Better Being Co. announced today the launch of its initial public...

Monday, July 26, 2021, 11:30:00 AM

Biotech Firm PepGen Prices US$108 Million IPO

Biopharmaceutical company PepGen, Inc. (Nasdaq: PEPG) began trading on the Nasdaq Global Select Market on...

Monday, May 9, 2022, 02:27:00 PM