Brief: Forbes To Become Public Company Through Business Combination With Special Purpose Acquisition Company Magnum Opus

Magnum Opus Acquisition

26/08/2021 13:40

Aug 26 (Reuters) - Magnum Opus Acquisition Ltd  OPA.N :
    * FORBES TO BECOME PUBLIC COMPANY THROUGH BUSINESS
COMBINATION
WITH SPECIAL PURPOSE ACQUISITION COMPANY MAGNUM OPUS
    * MAGNUM OPUS ACQUISITION LTD - TRANSACTION VALUES COMBINED
COMPANY AT AN IMPLIED PRO FORMA ENTERPRISE VALUE OF $630 MILLION
    * MAGNUM OPUS ACQUISITION LTD - TRANSACTION IS EXPECTED TO
CLOSE
IN LATE Q4 2021 OR EARLY Q1 2022
    * MAGNUM OPUS ACQUISITION LTD - FORBES WILL LIST ON NEW YORK
STOCK
EXCHANGE UNDER TICKER SYMBOL "FRBS"
    * MAGNUM OPUS ACQUISITION LTD - FORBES SHAREHOLDERS WILL OWN
APPROXIMATELY 22% OF COMBINED COMPANY AT CLOSING
    * MAGNUM OPUS ACQUISITION LTD - COMBINED CO HAS SECURED AN
ADDITIONAL $400 MILLION VIA PIPE
    * MAGNUM OPUS ACQUISITION LTD - FORBES WILL BE CAPITALIZED
WITH UP
TO $145 MILLION IN CASH
    * MAGNUM OPUS ACQUISITION - COMBINED COMPANY WILL CONTINUE
TO BE
LED BY CURRENT MANAGEMENT TEAM AND WILL RETAIN FORBES NAME
    * MAGNUM OPUS ACQUISITION LTD - FORBES' EXISTING MANAGEMENT
TEAM 
WILL CONTINUE TO MANAGE COMBINED CO UPON CLOSE UNDER LEADERSHIP
OF CEO MIKE FEDERLE

Source text for Eikon:  ID:nBwbbXyPva 
Further company coverage:  OPA.N 

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