Flying Eagle Acquisition, the sixth blank check company formed by SPAC veteran Jeff Sagansky and former MGM CEO Harry Sloan, raised $600 million by offering 60 million units at $10 to command a market value of $725 million. Each unit consists of one whole share of common stock and one quarter of a redeemable warrant, exercisable at $11.50.
Sagansky and Sloan's most recent SPAC, Diamond Eagle Acquisition (DEACU), announced it agreed to merge with Draft Kings in December 2019 and its units closed Thursday up 98% since IPO.
Flying Eagle Acquisition plans to list on the NYSE under the symbol FEAC.U. Goldman Sachs and Deutsche Bank acted as lead managers on the deal.
