Diamond Eagle Acquisition, the fifth blank check company formed by entertainment veteran Jeff Sagansky, raised $350 million by offering 35 units at $10, as expected. Each unit consists of one share of common stock andone-third of one redeemable warrant. Each whole warrant entitles the holder to purchase one share of common stock at $11.50 per share.
Diamond Eagle Acquisition has begun trading on the Nasdaq under the symbol DEACU. Deutsche Bank and Goldman Sachs acted as lead managers on the deal.
The article Diamond Eagle Acquisition, Jeff Sagansky's fifth SPAC prices IPO at $10, and begins trading 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.
