D and Z Media President Talks SPACs with Bloomberg

Marti is pushing ahead with the plans to merge with Turkey-focused Galata Acquisition, which is backed by Callaway Capital Management. The transaction values the combined company at a pro forma enterprise value of approximately $532 million.

The ruling “is going to be more complicated” than most securities lawyers anticipated, said Michael Fay of Boies Schiller Flexner in New York.

Shareholder claims against CBS Entertainment ex-president Jeff Sagansky, former MGM Studios chairman Harry Sloan, and other architects of the merger between Skillz and Flying Eagle Acquisition will move forward after a Delaware judge, Vice Chancellor Paul A. Fioravanti Jr., found them sufficient.

The company intends to offer nearly 6.9 million shares at €0.817 each (approximately $5.9 million).