Magnum Opus Acquisition filed a preliminary proxy outlining its proposed merger with Forbes Global Media Holdings.
The transaction values the combined company at an implied pro forma enterprise value of $630 million, net of tax benefits.
As announced back in August, the transaction is expected to raise approximately $600 million of gross proceeds consisting of the approximately $200 million of cash held in Magnum Opus’ trust, assuming no redemptions, and $400 million of additional capital through a PIPE.
Assuming no redemptions, Forbes shareholders will own approximately 22% of the combined company at closing. Read more.
