Liberty Media Acquisition Corporation (NASDAQ:LMACU), a special purpose acquisition company (SPAC), has launched its initial public offering (IPO).
Here’s everything potential investors in LMACU stock need to know about the Liberty Media SPAC IPO.
- Liberty Media Acquisition Corporation is a blank-check company created with the purpose of taking a private company public.
- The SPAC intends to target companies in the “media, digital media, music, entertainment, communications, telecommunications and technology industries.”
- The company is backed by Liberty Media, which has billionaire John Malone as its chairman.
- Malone is also the largest shareholder in the company.
- Liberty Media is a massive company that is split into three divisions based on its businesses.
- That includes Liberty Media Formula One (NASDAQ:FWONA,NASDAQ:FWONK), Liberty Sirius XM (NASDAQ:LSXMA,NASDAQ:LSXMK), and Liberty Braves (NASDAQ:BATRA, NASDAQ:BATRK).
- Liberty Media Acquisition Corporation IPO has the company offering a total of 50 million units at a price of $10 each.
- Each of these units contains one share of LMACU stock and one-fifth of a warrant to purchase another share with an exercise price of $11.50.
- The joint book-running managers of the Liberty Media SPAC IPO are Citigroup, Morgan Stanley, Credit Suisse, and Goldman Sachs.
- Members of the company’s management team are made up of executives from other Liberty Media companies.
- Also, Liberty Media’s stake in LMCA is attributed to the Formula One company.
LMACU stock was up 30.2% as of Friday morning.
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.