Newly formed Group Nine Acquisition filed to offer 20 million units at $10 each to raise $200 million in an IPO.
Group Nine said it will focus on businesses involved in social media, e-commerce, events, and the digital publishing and marketing sectors. As part of any acquisition, the SPAC would also merge with its sponsor’s parent company, Group Nine Media.
The SPAC is led by Chairman and CEO Ben Lerer, who serves as CEO of Group Nine Media, a digital media holding company consisting of Thrillist, POPSUGAR, The Dodo, NowThis, and Seeker.
Group Nine plans to list on the Nasdaq under GNACU. Read more.
