Soaring Eagle Acquisition Corp., Led by Eagle Equity Partners’ Harry Sloan, Jeff Sagansky and Eli Baker Announces Completion of $1.725 billion IPO
Soaring Eagle Acquisition Corp. successfully closed its initial public offering of 172.5 million units at $10.00 each, including the full over-allotment of 22.5 million units. Each unit comprises one Class A ordinary share and one-fifth of a warrant to purchase one share at $11.50. The units began trading on Nasdaq under the ticker SRNGU on February 24, 2021. The company, a blank check firm, aims to identify and acquire a business across various sectors, leveraging extensive management experience. The offering was managed by Goldman Sachs.
- Successfully closed IPO raising $1.725 billion
- Strong management team with extensive investment experience
- Plans to pursue a broad range of business sectors
- No specific target identified for business combination yet
- Future performance highly uncertain due to reliance on market conditions
Soaring Eagle Acquisition Corp. (the “Company”), the seventh public acquisition vehicle led by Eagle Equity Partners’ Harry Sloan, Jeff Sagansky and Eli Baker today announced the closing of its initial public offering of 172,500,000 units, including 22,500,000 units issued pursuant to the exercise by the underwriters of their over-allotment option in full, at a price of
Soaring Eagle Acquisition Corp. is a blank check company whose business purpose is to effect a merger, capital 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, acquire and operate a business or businesses that can benefit from its management team’s established global relationships and operating experience. The Company’s management team has extensive experience in identifying and executing strategic investments globally and has done so successfully in a number of sectors, including media and entertainment.
The Company’s sponsor is Eagle Equity Partners III, LLC, of which Harry Sloan, Jeff Sagansky and Eli Baker are Managing Members. Harry E. Sloan, who co-led six prior public acquisition vehicles with Mr. Sagansky, is the Chief Executive Officer and Chairman of the Company. Joining Mr. Sloan in the management of the company is President, Chief Financial Officer and Secretary, Eli Baker, who served as President, Chief Financial Officer and Secretary of three of Mr. Sagansky’s prior public acquisition vehicles, Vice President, General Counsel and Secretary of another of Mr. Sagansky’s prior public acquisition vehicles and as a director of another of Mr. Sagansky’s prior public acquisition vehicles.
Goldman Sachs & Co. LLC acted as the representative of the underwriters for the offering.
The offering was made only by means of a prospectus. Copies of the prospectus may be obtained from Goldman Sachs & Co. LLC, 200 West Street, New York, NY 10282, Attn: Prospectus Department, by telephone at 866-471-2526 or by emailing prospectus-ny@ny.email.gs.com.
A registration statement relating to these securities was declared effective by the U.S. Securities and Exchange Commission (the “SEC”) on February 23, 2021. 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 Company’s search for an initial business combination. No assurance can be given 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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