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Diamond Eagle Acquisition files for a $350 million IPO


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Diamond Eagle Acquisition, the fifth blank check company formed by entertainment veteran Jeff Sagansky, filed on Thursday with the SEC to raise up to $350 million in an initial public offering.

The Los Angeles, CA-based company plans to raise $350 million by offering 35 million units at a price of $10. At $10, Diamond Eagle Acquisition would command a market value of $438 million. Units consist of one share of its Class A common stock and one-third of one redeemable warrant. Each whole warrant entitles the holder to purchase one share of Class A common stock at a price of $11.50 per whole share.

Diamond Eagle Acquisition was founded in 2019 and plans to list on the Nasdaq. The company did not disclose a proposed ticker or its underwriters. 

The article Diamond Eagle Acquisition files for a $350 million IPO originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.

Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital's Renaissance IPO ETF (symbol: IPO) , Renaissance International ETF (symbol: IPOS) , or separately managed institutional accounts may have investments in securities of companies mentioned.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.





This article appears in: News Headlines , IPOs




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