Ex-MGM, CBS Execs' 7th Blank-Check Co. Lands $1.5B In IPO
Law360 (February 24, 2021, 6:30 PM EST) -- The latest blank-check company from former Metro-Goldwyn-Mayer Studios and CBS executives landed $1.5 billion Wednesday as its units took off on the stock exchange as part of an initial public offering guided by White & Case, Maples and Calder and underwriter's counsel Davis Polk.
Soaring Eagle Acquisition Corp., directed by White & Case LLP and Maples and Calder, said in its regulatory filings that it would devote the funds to merge with a business that complements its management team's expertise in industries like media and entertainment.
Black-check companies, or special-purpose acquisition companies, raise money through IPOs to take private companies public,...
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