{"id":331256,"date":"2021-08-26T18:03:46","date_gmt":"2021-08-26T15:03:46","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/forbes-to-become-public-company-through-630m-spac-merger\/"},"modified":"2021-08-26T18:03:46","modified_gmt":"2021-08-26T15:03:46","slug":"forbes-to-become-public-company-through-630m-spac-merger","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/forbes-to-become-public-company-through-630m-spac-merger\/","title":{"rendered":"#Forbes to become public company through $630M SPAC merger"},"content":{"rendered":"<p>&#8220;<strong>#Forbes to become public company through $630M SPAC merger<\/strong>&#8221;<\/p>\n<div>\n<aside class=\"single__inline-module alignleft\">\n        <\/aside>\n<p>Forbes Global <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Media<\/a>, the publisher of Forbes magazine, said Thursday that it will go public through a merger with a blank-check acquisition firm in a deal that values the combined entity at $630 million.<\/p>\n<p>The company said it will merge with special purpose acquisition company Magnum Opus Acquisition in order to go public in a deal that is expected to close at the end of 2021 or early in 2022. Forbes will then trade on the New York Stock Exchange under the ticker symbol \u201cFRBS.\u201d<\/p>\n<p>The deal with Magnum Opus, which is expected to raise $600 million in proceeds for Forbes, also includes a private investment in public equity, or PIPE, of $400 million.<\/p>\n<p>Forbes\u2019 existing management team will stay in place under the leadership of Chief Executive Mike Federle, and once combined, a new board will be announced, the company said. <\/p>\n<p>Forbes magazine, which was founded in 1917 by B.C., has long championed capitalism and entrepreneurship and is perhaps best known for its annual list of the world\u2019s wealthiest people. <\/p>\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/08\/forbes-spac-02.jpg?quality=90&amp;strip=all&amp;w=1024\" alt=\"Forbes magazine on a Samsung Galaxy tablet in hands.\" class=\"wp-image-19252487\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/08\/forbes-spac-02.jpg?quality=90&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/08\/forbes-spac-02.jpg?quality=90&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/08\/forbes-spac-02.jpg?quality=90&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>Forbes is looking to continue its digital transformation via the SPAC merger. <\/figcaption><figcaption><span class=\"credit\">Alamy Stock Photo<\/span><\/figcaption><\/figure>\n<p>Forbes has evolved from a print publication into a digital media company. It now relies more on key franchises like Under 30, conferences and a slew of brand extensions in real estate and education, as well as advertiser-paid content, than on magazine sales.  <\/p>\n<p>The company said its brand reaches more than 150 million people worldwide, and added that the SPAC merger will help it \u201cfurther capitalize\u201d on its \u201cdigital transformation.\u201d Earlier this year, Forbes was in talks to sell itself for $650 million, but some critics said that valuation was too high.  <\/p>\n<p>\u201cWith this transition into a publicly traded company, Forbes will have the capital to accelerate growth by executing its differentiated content and platform strategy and fully realize the potential of our iconic brand,\u201d said CEO Federle.<\/p>\n<p>SPAC deals have become a popular way for companies to go public. This year alone, several digital publishers, including Buzzfeed, Bustle Digital Group, Vox Media and Vice Media, have all held talks about a market debut via a SPAC merger.\n                        <\/p><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/nypost.com\/2021\/08\/26\/forbes-to-become-public-company-through-630m-spac-merger\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;#Forbes to become public company through $630M SPAC merger&#8221; Forbes Global Media, the publisher of Forbes magazine, said Thursday that it will go public through a merger with a blank-check acquisition firm in a deal that values the combined entity at $630 million. The company said it will merge with special purpose acquisition company Magnum&#8230;<\/p>\n","protected":false},"author":1,"featured_media":331257,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/08\/forbes-spac-01.jpg?quality=90&strip=all&w=1024","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[114879,72323,73854,70964,106341,5007,4934,70584],"class_list":["post-331256","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-8-26-21","tag-digital-media","tag-digital-publishing","tag-forbes","tag-forbes-media","tag-ipo","tag-magazines","tag-mergers-acquisitions"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/331256","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=331256"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/331256\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/331257"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=331256"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=331256"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=331256"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}