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.
Blue Ocean (NASDAQ:BOCN) provided significantly more texture today in the presentation for its $275 million combination with Asian digital media group TNL Mediagene, which it expects to hit profitability in the second half of the year despite a slight shakeup in financing for the transaction. The first big update in the first investor deck is...
At the SPAC of Dawn A brand new market may have just opened up for space de-SPACs as NASA administrator Bill Nelson announced a shift in the agency’s $11 billion program for a mission to return samples from Mars. Rather than rely on the agency’s internal technologies that would be predicted to get a sample...
Overall deal flow between SPACs and biotech firms has slowed over the last year, but some pending FDA changes could breathe new life into particular business models within the space. In particular, the FDA has asked Congress as part of its 2025 Legislative Proposals to eliminate the interchangeability designation for biosimilar medications, claiming the existing...
At the SPAC of Dawn Ever since Digital World announced its combination with Trump Media (NASDAQ:DJT) back in October 2021, it was clear that SPACworld and the Trump show were set to be intertwined for quite some time. And, although not every headline has a bearing on the wider SPAC world, Trump Media’s post-close rise...
AltC (NYSE:ALCC) has reportedly been taking the pitch deck for its combination with nuclear fission firm Oklo on the road in recent weeks, which has generated the rare result of a SPAC trading significantly above its trust value still well before completing its deal. The SPAC has an estimated $10.59 per share in its trust...