Forest Road Acquisition II closed its upsized IPO of 35 million units at $10 per unit, which includes an exercise of the underwriters’ option to purchase 4.5 million additional units.
Units trade on the NYSE under FRXB.U. Each consists of one share of Class A common stock and one-fifth of one redeemable warrant; whole warrants are exercisable at $11.50 for one share. Once the securities comprising the units begin trading separately, stock and redeemable warrants will list under FRXB and FRXB WS, respectively.
The SPAC is headed by two former senior Disney execs — Tom Staggs and Kevin Mayer, who are Co-CEOs of the blank-check company.
Staggs is a former Disney COO and Mayer was chairman of Disney’s Direct-to-Consumer and International.
The SPAC intends to concentrate its search for a target business operating in the technology, media, telecommunications, and consumer (“TMTC”) space. Read more.
