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.
