|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||37.98 - 37.98|
|52 Week Range||21.00 - 44.95|
|Beta (5Y Monthly)||1.29|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
Liberty Media Corporation, one of the largest media companies in the U.S., is entering the SPAC market with a newly announced IPO.About Liberty Media Corporation: The sponsor of the SPAC offering is Liberty Media Corp. The company is the owner of The Liberty Braves Group (NASDAQ: BATRA), Formula One Group (NASDAQ: FWONA) and The Liberty SiriusXM Global (NASDAQ: LSXMA).SPAC CEO: The SPAC will be led by Gregory Maffei. He's the CEO of Liberty Media Corp., Liberty Broadband Corp., GCI Liberty and Liberty TripAdvisor.Maffei is also the chairman of Qurate Retail, Live Nation Entertainment (NYSE: LYV), SiriusXM Holdings (NASDAQ: SIRI) and TripAdvisor Inc (NASDAQ: TRIP).Related Link: MLB Playoffs, New York Mets Sale Could Boost Atlanta Braves StockThe Offering: Liberty Media Acquisition Corporation (NASDa Q: LMACA) will sell 50 million units that are good for one common share and one-fourth of a warrant with an $11.50 price.The sponsor has committed to purchase up to 10 million warrants at $1.50 each in a private placement. The sponsor will also buy 250 million in units at $10. Liberty Media Corp. owns 14,375,000 founder shares prior to the IPO.The SPAC units will trade as LMACU and then split to common shares (LMACA) and warrants (LMACW) around 52 days after the offering.SPAC Target: Liberty Media Acquisition Corp. is seeking a company in the media, digital media, music, entertainment, communication, telecommunications or technology field.Among the criteria for a target company are strong growth trajectory, need to scale, stable free cash flow generated and a potential industry consolidator.See more from Benzinga * Click here for options trades from Benzinga * Sotera Health IPO: What Investors Need To Know * Maravai IPO: What Investors Should Know About Pfizer/BioNTech COVID-19 Vaccine Partner(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
An affiliate of John Malone’s (FWONA) Corporation has filed to raise a $500 million special purpose acquisition company, or SPAC. Once public, the “blank check company” will allow Malone and his longtime lieutenant, Greg Maffei, to pursue a merger in technology, media, and telecommunications. A SPAC seems like a near-perfect vehicle for Malone’s investing style.
Nov 19 (Reuters) - A blank-check company backed by Formula One-owner Liberty Media Corp is looking to raise $500 million in a U.S. initial public offering, a regulatory filing showed on Thursday.