Kartoon Studios files for $300 million SPAC IPO
The blank-check vehicle would hunt for acquisition targets in the media and entertainment industry, according to citybiz.
By The Carnegie Standard Staff
· 1 min read
Kartoon Studios has filed for a $300 million special purpose acquisition company initial public offering that would target acquisitions in media and entertainment, according to citybiz.
A SPAC, also known as a blank-check company, raises money from public investors before identifying a business to buy, then uses the proceeds to complete a combination with a target company. The filing sets the proposed size of the offering at $300 million and identifies media and entertainment as the sector the vehicle would pursue.
Further terms of the offering were not included in the report.
This story was first reported by citybiz.
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