Media, Energy-Focused SPACs Raise $561M In Market Debuts

Law360 (November 25, 2020, 4:38 PM EST) -- Two blank-check companies, one led by former Disney executives and the other backed by Apollo Global Management, started trading Wednesday after raising a combined $561 million in initial public offerings.

Forest Road Acquisition Corp. raised $261 million in its upsized debut, while Apollo's energy-focused Spartan Acquisition Corp. II raised $300 million in a downsized IPO.

Forest Road Acquisition Corp.'s units started trading under the symbol "FRX.U" on the New York Stock Exchange, where they opened at $10.35 apiece. New York-headquartered Forest Road debuted by pricing 26.1 million units at $10 apiece in its IPO, after initially planning to sell 25 million...

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