Forest Road Acquisition announced the closing of its upsized IPO of 30,000,000 units at a price of $10 per unit, including an exercise of the underwriters’ option to purchase 3,900,000 additional units. The offering resulted in gross proceeds of $300 million. The IPO was originally priced at $261 million.
Shares trade on the NYSE under “FRX.U”. Once the securities begin trading separately, stock and redeemable warrants will be listed under “FRX” and “FRX WS,” respectively.
Forest Road is focused on targets in the technology, media and telecommunications space. Former Disney exec Kevin Mayer and Shaquille ONeal are strategic advisors to the SPAC. Read more.
