Screaming Eagle Acquisition shares were up nearly 9% today following yesterday’s shareholder vote on a proposed business combination with Lionsgate Studio — one of the biggest SPAC deals in the last year. Vote results have yet to be released as of late this afternoon and neither party has announced the outcome of the shareholder meeting.
The deal, which spins off the Lionsgate Studio business from Starz, was valued at $4.6 billion at announcement in December.
The SPAC, which currently has a $443.3 million market cap, has $225 million in PIPE funding to support the transaction. 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.
