Jeff Sagansky, Harry Sloan Partner on New Acquisition Company With $400 Million IPO (EXCLUSIVE)

Variety | 5/10/2019 | Dave McNary
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Veteran Hollywood executives Jeff Sagansky and Harry Sloan are launching Diamond Eagle Acquisition Corp. with a $400 million initial public offering.

Diamond Eagle Acquisition is the fifth public acquisition vehicle since 2011 launched by Sagansky and Sloan. These kind of acquisition companies have gained in popularity in recent years as a means for investors to participate in new players in the media and digital sector — particularly with rivals emerging to Netflix in streaming technology.

Companies - Global - Eagle - Acquisition - Silver

Their other companies — Global Eagle Acquisition, Silver Eagle Acquisition, Double Eagle Acquisition and Platinum Eagle — raised a combined $1.6 billion for investment purposes. Diamond Eagle will be looking to invest in media companies as did Global Eagle, which moved into in-flight entertainment holdings, and Silver Eagle, which bought a 38% stake in Indian pay-TV service provider Videocon d2h.

The IPO included 40 million units at $10 per unit. Each unit issued in the initial public offering 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.

Units - Nasdaq - Trade - Ticker

The units will be listed on the Nasdaq and trade under the ticker...
(Excerpt) Read more at: Variety
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