Jeff Sagansky and Harry Sloan, experienced show business executives, revealed plans to launch an initial public offering for Silver Eagle Acquisition Corp. The longtime media duo expects to raise around US$250 million through its market debut .
The firm entered the industry via the Global Eagle Acquisition around two years ago for US$190 million. Its plan is to concentrate on acquisitions in the entertainment and media sectors. They announced yesterday that the firm expects to commence its market debut of 25 million shares at around US$10 per share. The company plans to offer the underwriters handling the transaction a 45-day option to acquire up to 3.75 million additional shares. acting as the sole book runner for the offering is Deutsche Bank Securities Inc.
The statement said Silver Eagle was initially formed with the intent of acquiring one or more businesses through either a capital stock exchange, merger, or an asset acquisition.
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