SPAC Flying Eagle Acquisition files for a $500 million IPO

Flying Eagle Acquisition, the sixth blank check company formed by SPAC veterans Jeff Sagansky and former MGM CEO Harry Sloan, filed with the SEC on Tuesday for an initial public offering.

The Los Angeles, CA-based company plans to raise $500 million by offering 50 million units at a price of $10 to command a fully diluted market value of $625 million. Each unit consists of one share of common stock and one-quarter of one warrant exercisable at $11.50

Flying Eagle Acquisition was founded in 2020. It plans to list on the NYSE but has not disclosed a proposed symbol. Goldman Sachs is the sole bookrunner on the deal.

The article SPAC Flying Eagle Acquisition files for a $500 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.

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