Their business, Silver Eagle Acquisition Corp., is a special purpose acquisition company (SPAC). It will use the cash from today’s IPO to hunt for deals — mostly likely ones that capitalize on their experience in content creation, although they say that they’ll consider other “high growth potential” opportunities.Jeff Sagansky formerly was CEO of Paxson Communications, Co-President of Sony Pictures Entertainment, and President of CBS Entertainment, while Harry Sloan formerly was CEO of MGM. In the IPO they sold 32.5M shares at $10 a share, and the stock — trading on NASDAQ under the symbol EAGLU — is up a few pennies in mid-day trading. Each share also includes a warrant to buy a half of a share for $5.75. Deutsche Bank Securities managed the offering.
Subscribe to Deadline Breaking News Alerts and keep your inbox happy.