Screaming Eagle Acquisition in an 8-K said it entered into a non-redemption agreement with investors who agreed to buy and hold $20 million in the SPAC’s stock through the completion of its proposed merger with Lionsgate Studio.
Screaming Eagle shareholders are expected to vote May 7 on the $4.6 billion deal.
The SPAC last week said it increased PIPE funding to $225 million. There is a minimum $350 million cash condition to seal the deal.
The acquisition 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. Read more.
