Jeff Sagansky & Harry Sloan Worth Sixth Particular-Goal IPO At $600M
Jeff Sagansky and former MGM boss Harry Sloan are launching Flying Eagle Acquisition Corp, the pair’s sixth special-purpose acquisition firm. The brand new entity’s IPO, launching Friday, has been priced at $10 per unit for 60,000,000 items, which every consisting of 1 share of Class A standard inventory and one-fourth of 1 warrant to buy one share of Class A standard inventory at an train value of $11.50 per share.
The brand new items might be listed on the New York Inventory Trade underneath the ticker image “FEAC.U.” The corporate stated that after the securities comprising the items start separate buying and selling, the shares of Class A standard inventory and warrants are anticipated to be listed underneath the symbols “FEAC” and “FEAC WS,” respectively. The providing is anticipated to shut March 10.
Sloan is listed as Chief Govt Officer and Chairman of the corporate, and Eli Baker is President, Chief Monetary Officer and Secretary. Each have beforehand teamed with Sagansky on earlier clean test firms, created to “impact a merger, capital inventory change, asset acquisition, inventory buy, reorganization or related enterprise mixture with a number of companies.”
In December, the duo’s fifth blank-check firm, Diamond Eagle Acquisition Corp, was a part of three-way deal that may see sports activities betting big DraftKings go public as a part of a $3.Three billion merger with SBTech and Diamond Eagle.
Along with MGM, Sloan has been concerned with New World Leisure, SBS Broadcasting, and Lionsgate Movies over the course of his profession. Sagansky, along with serving as leisure president at CBS within the early 1990s, additionally had govt stints at Tri-Star and NBC.
COPYRIGHT_BP: Published on https://bingepost.com/jeff-sagansky-harry-sloan-price-sixth-special-purpose-ipo-at-600m/52935/ by Cecilia Jones on 2020-03-06T03:24:39.000Z
Goldman Sachs and Deutsche Financial institution Securities are appearing because the representatives of the underwriters for the Flying Eagle Acquisition Corp providing.