Announced
Financials
Tags
Friendly
Majority
Reverse Takeover
Private Equity
De-SPAC
Single Bidder
Private
Merger
Acquisition
Entertainment
information services
United Kingdom
visual effects
Cross Border
Failed
Synopsis
DNEG, a technology-enabled visual effects and animation company, and Sports Ventures Acquisition, a SPAC, terminated a $1.7bn merger. The deal included a fully committed $168m common stock PIPE from Sports Ventures, Novator Capital, Fairfax Financial and Arbor Financial. “Due to current SPAC and equity market conditions, it was mutually determined that the best option for all parties at this time is to terminate the transaction. Namit and his team are leaders in the market, producing stunning and award-winning work that swept the awards this year. DNEG has a bright future and we wish everyone there much success," lan Kestenbaum, Sports Ventures CEO and Chairman
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