Sloan Sagansky SPACS

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Jeff Sagansky & Harry Sloan Price Sixth Special-Purpose IPO At $600M

By Patrick Hipes
March 5,2020

Jeff Sagansky and former MGM boss Harry Sloan are launching Flying Eagle Acquisition Corp, the pair’s sixth special-purpose acquisition company. The new entity’s IPO, launching Friday, has been priced at $10 per unit for 60,000,000 units, which each consisting of one share of Class A common stock and one-fourth of one warrant to purchase one share of Class A common stock at an exercise price of $11.50 per share.

The new units will be listed on the New York Stock Exchange under the ticker symbol “FEAC.U.” The company said that after the securities comprising the units begin separate trading, the shares of Class A common stock and warrants are expected to be listed under the symbols “FEAC” and “FEAC WS,” respectively. The offering is expected to close March 10.

Sloan is listed as Chief Executive Officer and Chairman of the company, and Eli Baker is President, Chief Financial Officer and Secretary. Both have previously teamed with Sagansky on previous blank check companies, created to “effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses.”

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In December, the duo’s fifth blank-check company, Diamond Eagle Acquisition Corp, was part of three-way deal that will see sports betting giant DraftKings go public as part of a $3.3 billion merger with SBTech and Diamond Eagle.

In addition to MGM, Sloan has been involved with New World Entertainment, SBS Broadcasting, and Lionsgate Films over the course of his career. Sagansky, in addition to serving as entertainment president at CBS in the early 1990s, also had executive stints at Tri-Star and NBC.

Goldman Sachs and Deutsche Bank Securities are acting as the representatives of the underwriters for the Flying Eagle Acquisition Corp offering.

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READ MORE ABOUT:
DRAFTKINGS
FLYING EAGLE ACQUISITION CORP
HARRY SLOAN
JEFF SAGANSKY

https://deadline.com/2020/03/jeff-sagansky-harry-sloan-flying-eagle-acquisition-ipo-1202875752/