Diamond Eagle U = 1C, 1/3W.
Warrant 1 + 11.50
Trust $402.5 million if the underwriters’ over-allotment option is exercised in full ($10.00 per unit in either case), will be deposited into a trust account in the United States with Continental Stock Transfer & Trust Company acting as trustee,
24 months.
Deutsche Bank. Goldman, Northland
Our Chief Executive Officer and Chairman, Jeff Sagansky, has almost 40 years of experience in the media and entertainment industries.
In July 2017, Mr. Sagansky and Eli Baker, our President, Chief Financial Officer and Secretary, founded Platinum Eagle Acquisition Corp., or Platinum Eagle, a blank check company formed for substantially similar purposes as our company, in which Mr. Sagansky served as chief executive officer and chairman, Mr. Baker served as president, chief financial officer and secretary and Harry E. Sloan was an initial shareholder. Platinum Eagle completed its initial public offering in January 2018, in which it sold 32,500,000 units, each consisting of one Class A ordinary share and one-third of one warrant to purchase one Class A ordinary share, for an offering price of $10.00 per unit, generating aggregate proceeds of $325,000,000. Platinum Eagle completed its initial business combination in March 2019, in which Platinum Eagle, through its wholly-owned subsidiary, Topaz Holdings LLC, acquired all of the outstanding equity interests of Target Logistics Management, LLC and RL Signor Holdings, LLC for an aggregate purchase price $1.311 billion. In the transaction, Platinum Eagle changed its name to Target Hospitality Corp., or Target Hospitality. Target Hospitality is a vertically integrated specialty rental and hospitality services company. Mr. Sagansky and Mr. Baker are directors of Target Hospitality. Upon the closing of the business combination, each outstanding unit of Platinum Eagle was separated into its component parts of one share of Target Hospitality common stock and one-third of one warrant. Target Hospitality’s common stock and public warrants are traded on Nasdaq under the symbols “TH” and “THWWW,” respectively. On May 2, 2019, the closing price of Target Hospitality’s common stock was $10.50.
In 2015, Messrs. Sagansky and Baker founded Double Eagle Acquisition Corp., or Double Eagle, a blank check company formed for substantially similar purposes as our company, in which Mr. Sagansky served as president and chief executive officer, Mr. Baker served as vice president, general counsel and secretary and Mr. Sloan was an initial shareholder. Double Eagle completed its initial public offering in September 2015, in which it sold 50,000,000 units, each consisting of one Class A ordinary share and one warrant to purchase one-half of one Class A ordinary share, for an offering price of $10.00 per unit, generating aggregate proceeds of $500,000,000. Double Eagle completed its business combination in November 2017, in which its wholly-owned subsidiary acquired 90% of the shares of Williams Scotsman International, Inc., or Williams Scotsman, for an aggregate purchase price of $1.1 billion. In the transaction, Double Eagle changed its name to WillScot Corporation, or WSC. WSC is a specialty rental services market leader providing modular space and portable storage solutions to diverse end markets across North America. Mr. Sagansky is a director of WSC. Upon the closing of the business combination, each outstanding unit of Double Eagle was separated into its component parts of one share of WSC Class A common stock and one warrant. WSC’s Class A common stock and public warrants are traded on Nasdaq under the symbols “WSC” and “WSCWW,” respectively. On May 2, 2019, the closing price of WSC’s Class A common stock was $13.74.
In 2013, Messrs. Sagansky and Sloan founded Silver Eagle Acquisition Corp., or Silver Eagle, a blank check company formed for substantially similar purposes as our company, in which Mr. Sagansky served as president and Mr. Baker served as a director. Silver Eagle completed its initial public offering in July 2013, in which it sold 32,500,000 units, each consisting of one share of common stock and one warrant exercisable for one-half of one share of common stock, for an offering price of $10.00 per unit, generating aggregate proceeds of $325,000,000. Silver Eagle completed its business combination in March 2015, in which it contributed approximately $273.3 million to Videocon d2h, after Silver Eagle’s exchange of all of Silver Eagle’s warrants for $32.5 million and payment of Silver Eagle’s transaction expenses, in exchange for equity shares of Videocon d2h represented by American Depositary Shares, or ADSs, that were listed on The Nasdaq Global Select Market, or Nasdaq GS, under the symbol “VDTH,” upon the closing of the business combination. Videocon d2h is a leading direct-to-home pay-TV service provider in India. In March 2018, Videocon d2h merged with and into Dish TV India Limited (NSE: DISHTV). Pursuant to the merger, each ADS of Videocon d2h was exchanged for approximately 8.073 equity shares of Dish TV India Limited. On the date of such exchange, the closing price of Dish TV India Limited’s equity shares was
$1.06. As a result, Silver Eagle investors who continued to hold Videocon d2h ADSs at the time of the closing of the merger with Dish TV India Limited received Dish TV India Limited equity shares valued at approximately $8.56 for each Videocon d2h ADS. On May 2, 2019, the closing price of Dish TV India Limited's equity shares was $0.52.
In 2011, Messrs. Sagansky and Sloan founded Global Eagle Acquisition Corp., or Global Eagle Acquisition, a blank check company formed for substantially similar purposes as our company, in which Mr. Sagansky served as president. Global Eagle Acquisition completed its initial public offering in May 2011, in which it sold approximately 19,000,000 units, each consisting of one share of common stock and one warrant, for an offering price of $10.00 per unit, generating aggregate proceeds of approximately $190 million. Global Eagle Acquisition completed its business combination in January 2013, acquiring 100% of the shares of Row 44, Inc., or Row 44, and 86% of the shares of Advanced Inflight Alliance AG, or AIA, and changed its name to Global Eagle Entertainment Inc., or GEE. GEE is a worldwide provider of media content, connectivity systems and operational data solutions to the travel industry. In the transaction, all major stockholders of both Row 44 and AIA agreed to receive shares in GEE in exchange for their Row 44 and AIA shares, and GEE entered into backstop agreements with PAR Investment Partners, L.P., and Putnam Capital Spectrum Fund and Equity Fund for aggregate investments in GEE common stock of over $70 million. Mr. Sagansky is a director of GEE. Upon the closing of the business combination, each outstanding Global Eagle Acquisition unit separated into its component parts of one share of common stock and one warrant. GEE’s common stock is traded on Nasdaq under the symbol “ENT” and its public warrants are quoted on the OTC Market under the symbol “ENTWW.” On May 2, 2019, the closing price of GEE’s common stock was $0.65.