Saban Capital Acquisition, a blank check company formed to acquire media, entertainment and communications assets, announced terms for its IPO on Tuesday.
The Los Angeles, CA-based company plans to raise $200 million by offering 20 million shares at a price of $10. At the the proposed range, Saban Capital Acquisition would command a fully diluted market value of $250 million. The company's chairman will be Haim Saban, who founded and led Saban Entertainment from its 1988 inception, through its merger with Fox Kids Network, to its eventual sale to The Walt Disney Company in 2001 for $3.3 billion
Saban Capital Acquisition was founded in 2016 and booked n/a in sales for the 12 months ended . It plans to list on the Nasdaq under the symbol SCACU. Deutsche Bank and Goldman Sachs are the joint bookrunners on the deal.. It is expected to price during the week of .
