Liberty Media Acquisition, a blank check company formed by Liberty Media Corporation targeting TMT and entertainment, filed on Thursday with the SEC to raise up to $500 million in an initial public offering.
The Englewood, CO-based company plans to raise $500 million by offering 50 million units at $10. Each unit will consist of one share of common stock and one-fourth of a warrant, exercisable at $11.50. The company may raise an additional $250 million at the closing of an acquisition pursuant to a forward purchase agreement with its sponsor. At the proposed deal size, Liberty Media Acquisition will command a market value of $625 million.
The company is led by CEO and Director Gregory Maffei, who currently serves as the CEO of LMC, Liberty Broadband, GCI Liberty, and Liberty TripAdvisor, and Chief Accounting Officer and Principal Financial Officer Brian Wendling, who currently serves in similar roles for LMC, Qurate Retail, Liberty Broadband, and GCI Liberty. The company plans to target the media, digital media, music, entertainment, communications, telecommunications, and technology industries.
Liberty Media Acquisition was founded in 2020 and plans to list on the Nasdaq under the symbol LMACU. Citi, Morgan Stanley, Credit Suisse, and Goldman Sachs are the joint bookrunners on the deal.
