Harry Sloan's Spinning Eagle SPAC files for $2 bln U.S. IPO
June 24 (Reuters) - Spinning Eagle Acquisition Corp, backed by former Hollywood executive Harry Sloan, filed for an initial public offering of up to $2 billion on Thursday, in what would be the biggest blank-check offering so far this year.
The special purpose acquisition company (SPAC), which will be listed on the Nasdaq, said it would be looking to sell 200 million units at $10 each.
If priced successfully, Spinning Eagle will become the biggest SPAC on offer this year amid a slowdown in blank-check dealmaking due to tighter regulatory scrutiny and waning investor appetite.
SPACs are shell firms that raise money on the promise of taking a private company public through a merger, typically within two years.
Spinning Eagle is also backed by veteran investor Eli Baker, who previously helped lead the SPAC merger with sports betting platform DraftKings Inc.
Baker and Sloan also worked together on the SPAC merger with mobile gaming firm Skillz Inc.
Goldman Sachs is the sole underwriter for the IPO. (Reporting by Niket Nishant in Bengaluru; Editing by Ramakrishnan M.)
