Magnum Opus Acquisition, a blank check company formed by L2 Capital targeting the consumer, technology, and media sectors, raised $200 million by offering 20 million units at $10. Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50.
The company is led by CEO and Chairman Jonathan Lin, President Frank Han, and CFO and Director Kevin Lee, the founders and Partners of L2 Capital, a private investment that aims to invest primarily in emerging industry leaders in the Greater China consumer and TMT sectors. The company plans to target businesses in the global consumer, technology, or media sectors with disruptive growth potential through the use of technology, focusing on those that can benefit from operations in Asia, with enterprise values between $700 million and $1.5 billion.
Magnum Opus Acquisition plans to list on the NYSE under the symbol OPA.U. Credit Suisse acted as a lead manager on the deal.
