SPAC Magnum Opus rises on $630 mln Forbes merger deal
26/08/2021 15:07
** Shares of blank check co Magnum Opus Acquisition Ltd
OPA.N up 1.4% at $9.89
** OPA will take the publisher of Forbes magazine, Forbes
Global Media Holdings Inc, public through a SPAC merger in a
deal that values combined co at $630 mln urn:newsml:reuters.com:*:nL4N2PX390
** Deal expected to fetch $600 mln of proceeds, including
PIPE funding of $400 mln, for Forbes Global Media
** Forbes will list on NYSE under ticker symbol "FRBS" after
deal closes
** Up to Wednesday's close, stock down 2.5% from its IPO
price of $10/shr in May
(Reporting by Ruhi Soni in Bengaluru)
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