Bold Eagle Acquisition, the eighth blank check company formed by SPAC veteran Jeff Sagansky and former MGM CEO Harry Sloan, raised $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 upon the completion of an initial business combination.
Previously known as Spinning Eagle Acquisition, the SPAC had filed to raise $2.0 billion in June 2021, but withdrew the proposed offering in April 2022.
The company is led by CEO and Director Eli Baker, a Partner at Eagle Equity Partners; Co-Chairman Harry Sloan, the former 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.
Bold Eagle Acquisition plans to list on the Nasdaq under the symbol BEAGU. UBS Investment Bank and Jefferies acted as joint bookrunners on the deal.
