ICYMI: Anti-media rhetoric and violence as the ‘French Trump’ launches his campaignĮven before BuzzFeed’s announcement, however, the SPAC market had started to cool, with the Securities and Exchange Commission tightening the accounting rules they must abide by. The company said that it would be valued at one and a half billion dollars, and that it would raise more than four hundred million dollars as part of the SPAC process, a third of it through debt financing. At the time, other digital-media companies-notably Bustle Digital Group, Vox Media, Group Nine, and Vice Media-had also been contemplating the SPAC route in the end, BuzzFeed was the first out of the gate with a firm proposal. Don’t worry, me neither.) BuzzFeed also said that it would acquire Complex Networks, a media and entertainment company, with Peretti making it clear that the leeway to make further acquisitions was a key part of the rationale behind the SPAC maneuver in a media industry where scale is increasingly valuable, especially given the digital-advertising dominance of Facebook and Google. (A red-hot financial trend in the first months of the year, SPACs, also known as “blank check” firms, are public entities that basically exist to raise investment then use it to buy a private company that then also becomes public, in a process that’s meant to be quicker and easier than a normal IPO. The road to this moment formally began in June, when BuzzFeed announced its intention to merge with 890 Fifth Avenue Partners, a special purpose acquisition company, or SPAC. If the (literal) bells and whistles seemed like a lot, they at least reflected the historic nature of the occasion: BuzzFeed is the first major digital-media company ever to go public. (“Do NOT Rely On This Quiz For Investment Advice,” the headline advised.) It was all, as CNN’s Kerry Flynn put it, “both a celebration of BuzzFeed” and “a scene epitomizing it, or at least the way it wants to be seen.” BuzzFeed also published a quiz for prospective investors. A black and blue dress ( or was it white and gold?) stood among the group on a mannequin, in a nod to BuzzFeed-virality past over at the company’s New York offices, a performing cat from America’s Got Talent jumped onto a cushion to mark the opening bell. Belton, the editor of HuffPost, which BuzzFeed recently acquired, and Dude With Sign, an Instagram celebrity who held up a sign (you were warned) that read “Glad We Didn’t Sell To Waystar,” a nod to the fictional media conglomerate in the hit drama Succession.
Jonah Peretti, the company’s CEO, was present at the Nasdaq to ring its opening bell he stood behind a podium marked with the Nasdaq logo and BuzzFeed’s new trading ticker-BZFD-among a crowd of a few dozen people that included Danielle C. EarlyBirdCapital is the sole bookrunner on the deal.Yesterday morning, amid jiggling yellow “omg” and “win” cut-outs and a shower of confetti, BuzzFeed made its debut on the stock exchange. Goal Acquisitions was founded in 2020 and plans to list on the Nasdaq under the symbol PUCKU.
#Vice media spac professional#
Goal Acquisitions plans to target leading professional sports teams, media, and brand-name companies and assets, with a particular focus on special situation assets which have significant potential for growth. He is joined by CFO and COO William Duffy, who is co-founder and Vice Chairman of The Aspire Sports Marketing Group and previously served as CFO for the Florida Panthers and the San Francisco 49ers. Schiller's previous roles include Commissioner of America's Cup and owner of the New York Yankees, New Jersey Devils, and New Jersey Nets. The company is led by CEO Harvey Schiller, whose current board seats include Chairman of Charlestowne Holdings, Vice Chairman of the digital, media and sports practice of the Diversified Search Group, and board member of the Baseball Hall of Fame. At the proposed deal size, Goal Acquisitions would command a market value of $289 million. Affiliates of Atalaya Capital Management intend to purchase up to 9.9% of units in the offering. Each unit consists of one share of common stock and one warrant, exercisable at $11.50. The Austin, TX-based company plans to raise $225 million by offering 22.5 million units at $10. Goal Acquisitions, a blank check company targeting the sports and media sectors, filed on Thursday with the SEC to raise up to $225 million in an initial public offering.
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