Screaming Eagle Acquisition $750 million IPO
Davis Polk advised the representatives of the underwriters in connection with the initial public offering of 75,000,000 units of Screaming Eagle Acquisition Corp., for aggregate proceeds of $750 million. Each unit consists of one Class A ordinary share and one-third of one warrant to purchase one Class A ordinary share of Screaming Eagle Acquisition Corp. The units were listed on the Nasdaq Capital Market under the symbol “SCRMU.”
Screaming Eagle Acquisition Corp., led by Harry E. Sloan, Jeff Sagansky and Eli Baker and other senior professionals, is a special purpose acquisition company (SPAC) formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. Screaming Eagle Acquisition Corp. intends to capitalize on the ability of the management team to identify and combine with a business or businesses that can benefit from the management team’s established global relationships and operating expertise.
The Davis Polk corporate team included partner Derek Dostal and associates Gil Savir, Sarah Greene and Kamil Turkmani. The tax team included partner Lucy W. Farr and associate Constance Zhang. Counsel Marcie A. Goldstein provided FINRA advice. All members of the Davis Polk team are based in the New York office.