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Lionsgate announced that Lionsgate Studios will launch on May 14, trading on NASDAQ under the symbol LION. This move makes Lionsgate Studios one of the world's largest standalone, publicly-traded content companies, raising $350 million from top investors. The transaction was facilitated by merging with Screaming Eagle Acquisition Corp, valuing Lionsgate Studios at $4.6 billion.
Lionsgate Studios will include the Motion Picture Group, Television Studio segments, and a library of over 20,000 titles, but excludes the STARZ platform. As a result, 87.2% of the shares will be held by Lionsgate, with the remaining 12.8% held by Screaming Eagle's shareholders and common equity investors. The full separation of Lionsgate and STARZ is expected by the end of 2024.
Screaming Eagle Acquisition Corp. announced that holders of its initial public offering units may begin trading Class A ordinary shares and warrants separately starting February 28, 2022. The offering completed on January 10, 2022, involved 75 million units that will continue to trade under the symbol "SCRMU." The Class A shares and warrants will trade under the symbols "SCRM" and "SCRMW," respectively. The Company aims at business combinations across various industries, leveraging its management team's global experience.
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