Screaming Eagle Acquisition announced that the registration statement outlining its merger agreement with Lionsgate Studio has been declared effective by the SEC. Accordingly, the SPAC called a May 7 meeting for shareholders to vote on the deal, which has an enterprise value of approximately $4.6 billion.
Screaming Eagle said it has increased PIPE funding to $225 million. There is a minimum $350 million cash condition to seal the deal.
The parties said they anticipate that the business combination will close early next month.
The deal positions the standalone Lionsgate Studios as a platform-agnostic, pure play content company with a deep portfolio of franchise properties including The Hunger Games, John Wick, The Twilight Saga and Ghosts, a robust film and television production and distribution business, a leading talent management and production company and a deep film and television library.
Screaming Eagle raised $750 million in a January 2022 IPO. Read more.
