Sloan, Sagansky-backed Spinning Eagle SPAC upsizes offering size to $2 bln ...Middle East

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Sloan, Sagansky-backed Spinning Eagle SPAC upsizes offering size to $2 bln
source : Devdiscourse ( Middle East ) () 29
Blank-check firm Spinning Eagle Acquisition Corp, backed by former Hollywood executives Harry Sloan and Jeff Sagansky, on Thursday upsized its offering to $2 billion after the Nasdaq eased the process for such companies to spin off new entities. The exchange operator recently approved a proposal that allows special purpose acquisition companies (SPACs) to spin off new investment vehicles without additional paperwork. That would make them similar to a private equity fund and enable blank-check firms to invest in more than one company in separate transactions.

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