Bold Eagle Acquisition (formerly known as Spinning Eagle Acquisition), the eighth blank check company formed by SPAC veteran Jeff Sagansky and former MGM CEO Harry Sloan, filed on Friday with the SEC to raise up to $250 million in an initial public offering. The company previously filed to raise $2.0 billion in June 2021, before it withdrew its planned offering in April 2022.
The New York, NY-based company plans to raise $250 million by offering 25 million units at $10. Each unit contains one share of common stock, and one right to receive one-twentieth of a share. At the proposed deal size, Bold Eagle Acquisition would command a market cap of $304 million.
The company is led by CEO and Director Eli Baker, a Partner at Eagle Equity Partners, Co-Chairman Harry Sloan, the previous CEO of Metro-Goldwyn-Mayer, and Co-Chairman Jeff Sagansky, a SPAC veteran. The group plans to target consolidations, carve-outs, and foreign companies that are seeking sponsorship to access the US capital markets. Bold Eagle Acquisition plans to target companies with a pro forma equity value of $3 billion or greater.
The New York, NY-based company was founded in 2021 and plans to list on the Nasdaq under the symbol BEAGU. Bold Eagle Acquisition (Spinning Eagle Acquisition) filed confidentially on July 23, 2024. UBS Investment Bank and Jefferies are the joint bookrunners on the deal.
