Newly formed Group Nine Acquisition offered 20 million units priced at $10 each to raise $200 million in an IPO.
Group Nine has 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 is also CEO of Group Nine Media, a digital media holding company consisting of Thrillist, POPSUGAR, The Dodo, NowThis, and Seeker.
Group Nine units trade on the Nasdaq under GNACU. Read more.
