SPAC Screaming Eagle rises on $4.6 bln Lionsgate studio merger

Lions Gate Entertainment

22/12/2023 14:06

** Blank check firm Screaming Eagle  SCRM.O  rises 1.9% to
$10.76 premarket 
    ** SCRM to merge with studio business of entertainment
company Lionsgate  LGFa.N  
    ** Deal valued at about $4.6 bln, expected to deliver around
$350 mln in gross proceeds to Lionsgate; expected to close in
spring 2024
    ** SCRM has a market cap of $990 mln as of Thursday - LSEG
data
    ** Lionsgate is down 1.5% premarket
    ** LGFa is up 95.8% YTD, while SCRM is up 6.24% YTD as of
last close
    

 (Reporting by Pranav Kashyap in Bengaluru)
 ((Pranav.Kashyap@thomsonreuters.com))