We are advising the placement agents on the de-SPAC transaction and the related PIPE financing

Davis Polk is advising the placement agents in connection with the $175 million PIPE and the business combination transaction between Screaming Eagle Acquisition and the studio business of Lions Gate Entertainment to launch Lionsgate Studios. The business combination values Lionsgate Studios at an enterprise value of approximately $4.6 billion. The transaction is expected to deliver approximately $350 million in gross proceeds to Lions Gate Entertainment, including $175 million from the PIPE and $175 million from Screaming Eagle Acquisition’s trust account (subject to applicable shareholder redemption rights).

Screaming Eagle Acquisition is a special purpose acquisition company (SPAC) formed for the purpose of effecting a business combination with one or more businesses. The studio business, comprising the Television Studio and Motion Picture Group segments of Lions Gate Entertainment, is one of the world’s most valuable film and television libraries.

The Davis Polk capital markets team includes partner Derek Dostal and associates Lincoln Jim and Shukra Sabnis. All members of the Davis Polk team are based in the New York office.