Flying Eagle to merge with Skillz in a $3.5bn deal.

Flying Eagle Acquisition, a blank-check firm, agreed to merge with Skillz, a mobile gaming company, in a $3.5bn deal. The transaction is expected to close in the Fall of 2020. Wellington Management, Fidelity Investments, Franklin Templeton Investments and Neuberger Berman have committed more than $159m to the deal in the form of a PIPE at a price of $10 per share of Class A common stock of Flying Eagle immediately prior to the closing of the transaction. “Becoming a public company is an important milestone for Skillz. We look forward to accelerating growth as we work with our developer partners to bring Skillz-powered competitions to every kind of game for billions of gamers worldwide,” Andrew Paradise, Skillz CEO and Founder.