Sloan Sagansky SPACS

[XenaLives]

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

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

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According to the complaint, Flying Eagle Acquisition Corp., a special purpose acquisition corporation, and Skillz consummated their merger on December 16, 2020. The merger valued Skillz at $3.5 billion. This valuation, however, was overstated as it relied on revenue projections that had little basis in reality. A substantial portion of Skillz's revenue is generated through Skillz's own cash, which it provides to its gamer customers in the form of Bonus Cash incentives. Skillz's gamer customers recycle these funds back into the Company as entrance fees and Skillz records it as revenue.

https://www.businesswire.com/news/home/20210512005900/en/SHAREHOLDER-ALERT-Robbins-LLP-Announces-That-Skillz-Inc.-SKLZ-fka-Flying-Eagle-Acquisition-Corp.-is-Being-Sued-for-Misleading-Shareholders