Silver Eagle Case Study

PRIORITY PR GUIDES SILVER EAGLE ACQUISITION CORP. IN $325 MILLION IPO
Deal Represents Largest SPAC Initial Public Offering in Seven Years

International PR and marketing firm Priority PR represented Silver Eagle Acquisition Corp. (Nasdaq: EAGLU), a special purpose acquisition company (SPAC), in its initial public offering of 32,500,000 units, which closed on July 30, 2013. The units were sold at an offering price of $10.00 per unit for gross proceeds of approximately $325 million. This is the largest amount raised in an IPO by a U.S. SPAC in over seven years. Deutsche Bank Securities Inc. acted as the sole book running manager and representative of the underwriters of the offering.

Silver Eagle is led by Harry Sloan, the former chairman and CEO of Metro-Goldwyn-Mayer Studios Inc., and Jeff Sagansky, the former president of CBS Entertainment. Silver Eagle will seek to acquire media or entertainment businesses with high growth potential in the United States or internationally. No acquisition target has yet been identified.

Silver Eagle is the second SPAC sponsored by Sloan and Sagansky. Priority PR also represented the first SPAC they sponsored, Global Eagle Acquisition Corp., in its $190 million IPO in 2011, and in the completion of its $430 million business combination with Row 44, Inc. and Advanced Inflight Alliance AG in January 2013.

Led by Priority PR chief Jeff Pryor, the investor and media relations campaign successfully garnered coverage in The Wall Street Journal, Reuters, Bloomberg, Deadline Hollywood, Variety and The Hollywood Reporter along with numerous stories in international TV trade outlets.


wsj

Former MGM Head Sloan Raises $325 Million in IPO

A company started by the former head of Metro-Goldwyn-Mayer Inc. said it raised $325 million from an initial public offering, a sum the company said it would use to fund around $1 billion worth of acquisitions in media or entertainment.

By Erich Schwartzel July 30, 2013

more - http://stream.wsj.com/story/latest-headlines/SS-2-63399/SS-2-290171/


reuters

Former MGM, CBS execs raise $325 million to buy media assets

July 30 | Tue Jul 30, 2013 4:46pm EDT

(Reuters) - Two former executives of the MGM movie studio and CBS Entertainment said on Tuesday they raised $325 million to fund acquisitions in the film and media business.

Former MGM Chief Executive Harry Sloan and Jeff Sagansky, a one-time president of CBS Entertainment, said in a statement that they raised the funds via an initial public offering of a special purpose acquisition company, Silver Eagle.

more - http://www.reuters.com/article/2013/07/30/silvereagle-ipo-idUSL1N0G01P820130730


bloomberg

Former MGM Chairman Sloan, Sagansky Plan $250 Million Media IPO

By Michael White - Jul 11, 2013 3:04 PM PT

Former Metro-Goldwyn-Mayer Inc. Chairman Harry Sloan and film financier Jeff Sagansky plan to raise $250 million for media and entertainment acquisitions, their second media-focused public offering.

Silver Eagle Acquisition Corp. (EAGLU) intends to sell 25 million units at $10 each, and may add another 3.75 million units if there’s enough demand, according to a statement today. Each unit will consist of one share and a warrant to buy a half-share for $5.75, the company said.

more - http://www.bloomberg.com/news/2013-07-11/former-mgm-chairman-sloan-sagansky-plan-250-million-media-ipo.html


deadline

Jeff Sagansky And Harry Sloan Raise $325M As They Take Acquisition Company Public

By DAVID LIEBERMAN, Financial Editor | Tuesday July 30, 2013 @ 12:59pm EDT

saganskysloanTheir business, Silver Eagle Acquisition Corp., is a special purpose acquisition company (SPAC). It will use the cash from today’s IPO to hunt for deals — mostly likely ones that capitalize on their experience in content creation, although they say that they’ll consider other “high growth potential” opportunities. Jeff Sagansky formerly was CEO of Paxson Communications, Co-President of Sony Pictures Entertainment, and President of CBS Entertainment, while Harry Sloan formerly was CEO of MGM. In the IPO they sold 32.5M shares at $10 a share, and the stock — trading on NASDAQ under the symbol EAGLU — is up a few pennies in mid-day trading. Each share also includes a warrant to buy a half of a share for $5.75. Deutsche Bank Securities managed the offering.

more - http://www.deadline.com/2013/07/jeff-sagansky-harry-sloan-silver-eagle-acquisition-ipo/


variety

Harry Sloan, Jeff Sagansky raise $325 million in Silver Eagle IPO

portrait

July 30, 2013 | 10:02AM PT

Silver Eagle set as acquisition vehicle

writer

Dave McNary
Film Reporter @Variety_DMcNary

Veteran show business execs Harry Sloan and Jeff Sagansky have raised $325 million via an initial public offering in Silver Eagle Acquisition Corp. — $75 million more than initially planned.

The duo, who tapped the markets two years ago for $190 million via Global Eagle Acquisition, plan to focus on acquisitions in the media and entertainment area. The Silver Eagle funds can be used over the next 21 months.

more - http://variety.com/2013/film/news/harry-sloan-jeff-sagansky-raise-325-million-in-silver-eagle-ipo-1200569722/


thr

Sloan, Sagansky's Latest 'Blank Check' Company Raises $325 Million

11:17 AM PDT 7/30/2013 by Alex Ben Block

thrphoto

Getty Images: Harry Sloan, Jeff Sagansky

Institutional interest proved stronger than expected, easily surpassing the group's initial goal of $250 million.

Harry Sloan and Jeff Sagansky's Silver Eagle Acquisition Corporation, set up to make acquisitions worldwide, has raised $325 million -- well over the initial target of $250 million, it was announced Tuesday.

Silver Eagle is a "blank check" company, meaning investors trust Sloan, the former head of MGM, and Sagansky, who held top executive posts at CBS and Sony, to find media or entertainment business in which to invest, to acquire or to merge with other entities they control. According to a source, the amount raised is due to increased interest from institutional investors.

The larger-than-expected amount raised is a tribute to what Sagansky and Sloan have already done, raising more than $500 million over the past two years.

more - http://www.hollywoodreporter.com/news/sloan-saganskys-latest-blank-check-595502


chicagotribune

Former MGM, CBS execs raise $325 million to buy media assets

Reuters 3:49 p.m. CDT, July 30, 2013

(Reuters) - Two former executives of the MGM movie studio and CBS Entertainment said on Tuesday they raised $325 million to fund acquisitions in the film and media business.

Former MGM Chief Executive Harry Sloan and Jeff Sagansky, a one-time president of CBS Entertainment, said in a statement that they raised the funds via an initial public offering of a special purpose acquisition company, Silver Eagle.

more - http://www.chicagotribune.com/business/sns-rt-us-silvereagle-ipo-20130730,0,2664126.story


wrap

Harry Sloan, Jeff Sagansky Raise $325M in IPO to Fund Entertainment Acquisitions

Second big fundraiser for the veteran media execs, who joined forces in 2011

Published: July 30, 2013 @ 12:15 pm
By Brent Lang

Veteran media executives Jeff Sagansky and Harry Sloan have raised $325 million through an initial public offering of Silver Eagle Acquisition Corp. and intend to use the money buy entertainment assets, the partners said Tuesday.

portrait2The pair, who joined forces in 2011, previously raised $190 million for a company called Global Eagle Acquisition.

Also read: Global Eagle Buys Post Modern Group to Become Largest Provider of In-Flight Entertainment

Sloan and Sagansky have deep ties to the industry, having served as the former chief executive officer of Metro-Goldwyn-Mayer and the former president of CBS Entertainment, respectively.

more -http://www.thewrap.com/media/article/harry-sloan-jeff-sagansky-raise-325m-ipo-fund-entertainment-acquisitions-106976