Liberty Media Acquisition Corporation Announces Closing of $575,000,000 Initial Public Offering

About this update from Liberty Media Corporation - Series A Liberty Formula One

[{"type":"text","content":" ENGLEWOOD, Colo.--(BUSINESS WIRE)--\nLiberty Media Acquisition Corporation (“LMAC”) (Nasdaq: LMACU), a newly formed special purpose acquisition company, today announced the closing of its initial public offering of 57,500,000 units, including 7,500,000 units sold pursuant to the full exercise of the underwriters’ over-allotment option, at a price of $10.00 per unit. The units began trading on the Nasdaq Stock Exchange (“Nasdaq”) under the ticker symbol “LMACU” on January 22, 2021. Each unit consists of one share of Series A common stock and one-fifth of one redeemable warrant. Each whole warrant may be exercised for one share of Series A common stock at a price of $11.50 per share following the later of 30 days after the completion of LMAC's initial business combination and 12 months from the closing of LMAC's initial public offering. Only whole warrants are exercisable. Once the securities comprising the units begin separate trading, the shares of Series A common stock and warrants are expected to be listed on the Nasdaq under the symbols “LMACA” and “LMACW,” respectively.\n\nLMAC intends to search for a target in the media, digital media, music, entertainment, communications, telecommunications and technology industries. LMAC's management team is led by Greg Maffei and includes other members of Liberty Media Corporation’s (\"Liberty\") current management team. Liberty operates and owns interests in a broad range of media, communications and entertainment businesses. LMAC's sponsor is a wholly-owned subsidiary of Liberty and holds a 20% interest in LMAC. Liberty’s ownership interest in LMAC is attributed to the Formula One Group tracking stock.\n\nCitigroup, Morgan Stanley, Credit Suisse and Goldman Sachs & Co. LLC acted as joint book-running managers for the offering. Copies of the prospectus related to the initial offering by LMAC may be obtained for free by visiting Edgar on the website of the Securities and Exchange Commission (“SEC”) at www.sec.gov or from Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by telephone at (800) 831-9146, Morgan Stanley & Co. LLC, Attn: Prospectus Department, 180 Varick Street, Second Floor, New York, NY 10014, Credit Suisse Securities (USA) LLC, Attn: Prospectus Department, 6933 Louis Stephens Drive, Morrisville, North Carolina ...

More updates from Liberty Media Corporation - Series A Liberty Formula One