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Sagansky and Sloan's SPAC Screaming Eagle Acquisition files for a $750 million IPO

December 15, 2021

Screaming Eagle Acquisition, the ninth blank check company formed by SPAC veteran Jeff Sagansky and former MGM CEO Harry Sloan, filed on Wednesday with the SEC to raise up to $750 million in an initial public offering.

The New York, NY-based company plans to raise $750 million by offering 75 million units at $10. Each unit consists of one share of common stock and one-third of a warrant, exercisable at $11.50. At the proposed deal size, Screaming Eagle would command a market value of $938 million.

The company is led by Chairman Harry Sloan, who previously served as CEO of Metro-Goldwyn-Mayer, and CEO and Director Eli Baker, who is a Partner at Eagle Equity Partners. SPAC veteran Jeff Sagansky will serve as a Director. Screaming Eagle Acquisition plans to target businesses that will benefit from its management team's experience, particularly within the media and entertainment sectors. 

The group's previous SPACs include Spinning Eagle Acquisition (SPNGU), which filed to raise $2 billion this past June; Soaring Eagle, which went public in October 2020 and recently completed its acquisition of biology company Ginkgo Bioworks (DNA; +8.5% from $10 offer price) in September 2021; Flying Eagle Acquisition, which went public in March 2020 and completed its acquisition of mobile esports platform Skillz (SKLZ; -19%); Diamond Eagle Acquisition, which went public in May 2019 and completed its merger with SBTech and DraftKings (DKNG; +187%) in April 2020; Platinum Eagle Acquisition, which went public in January 2018 and acquired Target Hospitality (TH; -67%) in March 2019; Double Eagle Acquisition, which went public in September 2015 and acquired WillScot Corp. (Nasdaq: WSC; +296%) in November 2017; Silver Eagle Acquisition, which went public in July 2013 and acquired Videocon d2h in March 2015; and Global Eagle Acquisition, which went public in May 2011 and acquired Advanced Inflight Alliance AG to form Global Eagle Entertainment in January 2013.

Screaming Eagle Acquisition was founded in 2021 and plans to list on the Nasdaq under the symbol SCRMU. Goldman Sachs and Citi are the joint bookrunners on the deal.