Infinite Eagle Acquisition, the tenth blank check company led by SPAC veteran Jeff Sagansky and former MGM CEO Harry Sloan, raised $300 million by offering 30 million units at $10. Each unit consists of one share of common stock and one right to receive one twenty-fifth (1/25) of a share upon the business combination. The majority of SPACs offering rights include 1/10 rights, though the duo's previous SPAC (BEAGU) managed to offer 1/20 rights.
The company is led by co-Chairman Harry Sloan, who previously served as CEO of Metro-Goldwyn-Mayer, and co-Chairman Jeff Sagansky, a SPAC veteran. They are joined by CEO and Director Eli Baker, the co-founder and Partner of Manifest Investment Managers and co-Managing Director at Hemisphere Capital Management, who has been involved with a few previous "Eagle" SPACs.
The SPAC plans to target businesses that will benefit from its management team's experience, in growing industries and markets, with revenue growth potential, and with potential for free cash flow generation.
Management has been behind several SPACs, including most recently Bold Eagle Acquisition (BEAGU), which raised $250 million in 2024 and is still searching for an acquisition. Previous successful de-SPACs include Lionsgate Studios (LION) in 2024, Ginkgo Bioworks (DNA) in 2021, Skillz (SKLZ) in 2020, and DraftKings (DKNG) in 2020.
Infinite Eagle Acquisition plans to list on the Nasdaq under the symbol IEAGU. Goldman Sachs acted as sole bookrunner on the deal. Infinite Eagle is the first Goldman-led SPAC in four years; the bank's self-imposed ban on SPAC work went into effect in 2022 as the market went into a tailspin, before it reversed course in 2025.
