Forest Road Acquisition Corp. announced the pricing of its upsized $261 million IPO this evening and its units are expected to begin trading on the NYSE under the symbol “FRX.U” tomorrow, Wednesday, November 25.
The new company aims to combine with a target in the Technology, Media, and Telecom (TMT) space. Forest Road is led by CEO, Secretary and Director Keith L. Horn alongside Chairperson of the Board and CIO Zachary Tarica, COO Idan Shani, and CFO Salil Mehta.
Total SPAC deal count for 2020 year-to-date is now 199 with $69.0 billion in gross proceeds raised. This offering is expected to close on Monday, November 30.
Cantor Fitzgerald & Co. is serving as sole bookrunner with Guggenheim Securities acting as co-manager. Ellenoff Grossman & Schole LLP is serving as Issuer’s Counsel with Graubard Miller serving as Underwriter’s Counsel. WithumSmith+Brown, PC serves as auditor. Continental Stock Transfer & Trust Company LLC is acting as trustee.