Magnum Opus Acquisition Limited - OPA STOCK NEWS

Magnum Opus Acquisition Limited (NYSE: OPA) announced on August 30, 2022, that it failed to timely file its Quarterly Report on Form 10-Q for the quarter ending June 30, 2022. Consequently, the New York Stock Exchange notified the Company of non-compliance with listing requirements. The Company has up to 12 months to remedy this issue, with an automatic six-month extension available. The Company expects to file the necessary report by September 30, 2022, although this timeline remains uncertain due to ongoing completion of financial disclosures.

Forbes Global Media Holdings has announced the termination of its Business Combination Agreement with Magnum Opus Acquisition Limited (NYSE: OPA). The decision comes despite Forbes reporting record revenue and earnings in the previous year and surpassing its business forecasts for 2022. CEO Mike Federle highlighted that the company's digital transformation resulted in double-digit revenue and EBITDA growth, alongside significant cash flow and year-over-year growth driven by their Media and Brand Extensions business.

Forbes Global Media Holdings is pursuing a business combination with Magnum Opus Acquisition Limited (NYSE: OPA), a special purpose acquisition company. Key executives, Mike Federle and Mike York, will present at NobleCon18 on April 20 in Hollywood, Florida, with breakout sessions for management interaction. A video webcast of the presentation will be available the following day on Forbes' investor relations website. The merger aims to enhance Forbes' market reach, leveraging Magnum Opus's expertise in consumer, technology, and media sectors.

Forbes has launched its first NFT project, the virtual Billionaires NFT collection, which features fictional investors with theoretical portfolios based on live NYSE pricing. The collection will be available for sale on April 13, with early access for subscribers on April 11. Forbes has partnered with FTX to create ERC-721 tokens, and the first drop includes 100 NFTs. Owners will be publicly listed on Forbes.com, while daily rankings will reflect real-time portfolio values. This initiative marks Forbes' significant entry into the blockchain and digital assets space.

Forbes Global Media Holdings is pursuing a business combination with Magnum Opus Acquisition Limited (NYSE: OPA), a SPAC focused on consumer, technology, and media sectors. Noble Capital Markets released a SPACtrac Report on Forbes, providing insights into its growth model and pandemic resilience. CEO Mike Federle and CFO Mike York discussed growth opportunities and the SPAC transaction in an exclusive interview. Forbes aims to leverage its brand, reaching over 150 million people globally, as it transitions to a public company, expected to finalize in Q1 2022.

Forbes hosted an Analyst Day on February 25, 2022, announcing a replay of the event available on its Investor Relations website. The presentation discussed the company’s plans to go public through a business combination with Magnum Opus Acquisition Limited (NYSE: OPA), a special purpose acquisition company (SPAC), expected to close in Q1 2022. Forbes reaches over 150 million people worldwide through its journalism and events, emphasizing its role in celebrating influential leaders and entrepreneurs driving transformation in business.

Forbes has announced its inaugural Digital Assets and Web3 Summit to be held virtually on March 16, 2022, from 2-4 p.m. ET. The summit will bring together leading figures discussing the evolving landscape of digital assets and Web3 technologies. Discussions will cover the impact of these innovations on businesses, institutional investment, and the NFT market. Forbes will also release its 2022 State of the Blockchain report during the event. Additionally, Forbes is set to go public through a merger with Magnum Opus (NYSE: OPA).

Forbes Global Media Holdings reported a strong financial performance, with 2021 revenue rising 40% year-over-year to $259 million. The fourth quarter revenue increased 51% to $94 million, driven by a 72% growth in its Consumer business. Full-year net income was $38 million, up from $8 million in 2020, while adjusted EBITDA grew 86% to $60 million. A $200 million investment from Binance was also announced. Forbes plans to go public via a merger with Magnum Opus Acquisition (NYSE: OPA), expected to close in Q1 2022.