Bold Eagle Acquisition Corp., Led by Eagle Equity Partners’ Harry Sloan, Jeff Sagansky and Eli Baker, Announces Pricing of $250 million IPO

Rhea-AI Summary

Bold Eagle Acquisition Corp has announced the pricing of its $250 million IPO, offering 25,000,000 units at $10.00 per unit. Each unit includes one Class A ordinary share and one Eagle Share Right for 1/20th of a Class A ordinary share. The company, led by Harry Sloan, Jeff Sagansky, and Eli Baker, will trade on Nasdaq under BEAGU. This marks Eagle Equity Partners' ninth public acquisition vehicle. The offering features a warrantless structure, and the sponsor will reduce founder shares equal to shares underlying Eagle Share Rights. The IPO is expected to close on October 25, 2024, with UBS Investment Bank and Jefferies as underwriters.

Positive

• Secured $250 million through IPO at $10.00 per unit
• Innovative warrantless structure reducing potential dilution
• Full $10.00 per unit to be deposited in trust account
• 45-day underwriter option for additional 3,750,000 units

Negative

• Potential dilution from Eagle Share Rights conversion
• Reduction in sponsor's founder shares

Insights

Financial Analyst

This $250 million SPAC IPO launch by Bold Eagle Acquisition Corp. introduces notable innovations in SPAC structure. The warrantless design and unique Eagle Share Rights (1/20th share per unit) represent a more shareholder-friendly approach compared to traditional SPACs. The sponsor's commitment to reduce founder shares proportionally to Eagle Share Rights demonstrates improved alignment with public investors.

The pricing at $10.00 per unit with $10.00 going to trust shows strong institutional backing. The management team's track record with 8 previous SPACs adds credibility, while heavyweight underwriters UBS and Jefferies suggest robust institutional distribution capabilities. The lack of warrants reduces potential dilution, making this SPAC structure more attractive for high-quality merger targets in any sector.

Bold Eagle Will Feature a Warrantless Structure

Each Unit Includes One Class A Ordinary Share and
One Eagle Share Right to Receive 1/20th of a Class A Ordinary Share

Sponsor to Reduce Founder Shares in an Amount Equal to the Shares Underlying the Eagle Share Rights

NEW YORK, NY, Oct. 23, 2024 (GLOBE NEWSWIRE) -- Bold Eagle Acquisition Corp. (the “Company”), the ninth public acquisition vehicle sponsored by Eagle Equity Partners, which is led by Harry Sloan, Jeff Sagansky and Eli Baker, today announced the pricing on October 23, 2024 of its initial public offering of 25,000,000 units at a price of $10.00 per unit. Each unit consists of one Class A ordinary share and one Eagle Share Right to receive one twentieth of one Class A ordinary share upon the consummation of an initial business combination. There are no warrants issued publicly or privately in connection with this offering and, after the closing of the initial public offering, the Company’s sponsor will reduce its founder shares in an amount equal to the Class A ordinary shares underlying the Eagle Share Rights. An amount equal to $10.00 per unit will be deposited into a trust account upon the closing of the offering. The units will be listed on the Nasdaq Global Market (“Nasdaq”) and trade under the ticker symbol “BEAGU” beginning on October 24, 2024. After the securities comprising the units begin separate trading, the Class A ordinary shares and Eagle Share Rights are expected to be listed on Nasdaq under the symbols “BEAG” and “BEAGR,” respectively. The offering is expected to close on October 25, 2024.

Bold Eagle Acquisition Corp. is a blank check company whose business purpose is to effect a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. The Company’s efforts to identify a prospective initial business combination target will not be limited to a particular industry, sector or geographic region. While the Company may pursue an initial business combination opportunity in any industry or sector, it intends to capitalize on the ability of its management team to identify and combine with a business or businesses that can benefit from its management team’s established global relationships and operating experience.

The Company’s sponsor is Eagle Equity Partners IV, LLC, of which Harry Sloan, Jeff Sagansky and Eli Baker are Managing Members. Harry Sloan and Jeff Sagansky are the Co-Chairmen of the Company. Joining Mr. Sloan and Mr. Sagansky in the management of the Company is Eli Baker, the Chief Executive Officer, who has served in various capacities in seven of Eagle Equity’s prior public acquisition vehicles, most recently as Chief Executive Officer of Screaming Eagle Acquisition Corp. Also joining Mr. Sloan, Mr. Sagansky and Mr. Baker in the management of the Company is Ryan O’Connor, the Chief Financial Officer, who previously served as the Vice President of Finance of Screaming Eagle Acquisition Corp.

UBS Investment Bank and Jefferies are acting as the representatives of the underwriters for the offering. The Company has granted the underwriters a 45-day option to purchase up to an additional 3,750,000 units at the initial public offering price to cover over-allotments, if any.

The offering is being made only by means of a prospectus. When available, copies of the prospectus may be obtained from UBS Securities LLC, Attention: Prospectus Department, 1285 Avenue of the Americas, New York, NY 10019, by telephone at (888) 827-7275 or by email at ol-prospectusrequest@ubs.com or from Jefferies LLC, Attn: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022, by telephone: 877-821-7388 or by email: Prospectus_Department@Jefferies.com.

A registration statement relating to these securities has been declared effective by the U.S. Securities and Exchange Commission (the “SEC”) on October 23, 2024. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any State or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such State or jurisdiction.

Cautionary Note Concerning Forward-Looking Statements

This press release contains statements that constitute “forward-looking statements,” including with respect to the initial public offering and search for an initial business combination. No assurance can be given that the offering discussed above will be completed on the terms described, or at all, or that the proceeds of the offering will be used as indicated. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company’s registration statement for the initial public offering filed with the SEC. Copies are available on the SEC’s website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

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INVESTOR AND MEDIA CONTACT:

Ryan O’Connor
t. (424) 284-3519 
e. roconnor@eaglesinvest.com

FAQ

What is the IPO price and size of Bold Eagle Acquisition Corp (BEAGU)?

Bold Eagle Acquisition Corp's IPO consists of 25,000,000 units priced at $10.00 per unit, totaling $250 million.

When will BEAGU start trading on Nasdaq?

BEAGU will begin trading on the Nasdaq Global Market on October 24, 2024.

What does each BEAGU unit consist of?

Each unit consists of one Class A ordinary share and one Eagle Share Right to receive one-twentieth of one Class A ordinary share upon business combination completion.

What are the separate trading symbols for Bold Eagle Acquisition Corp?

After unit separation, the Class A ordinary shares will trade as 'BEAG' and Eagle Share Rights as 'BEAGR' on Nasdaq.