Forbes failed to merge with Magnum Opus Acquisition in a $630m deal.

Forbes, a business information brand, failed to merge with Magnum Opus Acquisition, a special purposes acquisition company, in a $630m deal. Investor in PIPE included Binance. “The Forbes brand is a sought-after and trusted brand with more than 100 years of equity that is synonymous with success and validation. Our digital transformation has delivered double-digit revenue and EBITDA growth over the past year, which not only significantly outperformed the financial targets provided at the start of the SPAC transaction last year but continues to deliver high quality cashflows and compelling year-over-year and sequential growth since then. This is a testament to the incredible team we have assembled at Forbes that is delivering across our media, and brand extensions business, as well as our newer consumer conversion strategy that has shown triple digit revenue growth over the past two years," Mike Federle, Forbes CEO. On February 10, 2022, Forbes announced Binance would invest $200m in the $400m previously announced PIPE on the same terms as other PIPE investors.