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Initial public offerings

Bold Eagle Acquisition Corp. Closes Initial Public Offering of 25 Million Units

Strategic Insights

— 1 min read

Bold Eagle Acquisition Corp. (BEAGU), sponsored by Eagle Equity Partners, has announced the closing of its initial public offering of 25 million units at $10 per unit. Each unit consists of one Class A ordinary share and one Eagle Share Right to receive one twentieth of a Class A ordinary share upon the consummation of an initial business combination. The units are listed on the Nasdaq Global Market and trade under the ticker symbol BEAGU as of October 24, 2024.

Key Takeaways:

  • Bold Eagle Acquisition Corp. raised $250 million in its initial public offering of 25 million units at $10 per unit.
  • Each unit consists of one Class A ordinary share and one Eagle Share Right to receive one twentieth of a Class A ordinary share upon the consummation of an initial business combination.
  • The units are listed on the Nasdaq Global Market and trade under the ticker symbol BEAGU as of October 24, 2024.
  • The Company's sponsor, Eagle Equity Partners IV, LLC, will reduce its founder shares in an amount equal to the Class A ordinary shares underlying the Eagle Share Rights.
  • The Company's management team includes Harry Sloan and Jeff Sagansky as Co-Chairmen, Eli Baker as Chief Executive Officer, and Ryan O'Connor as Chief Financial Officer.
  • UBS Investment Bank and Jefferies are acting as representatives of the underwriters for the offering.
  • The Company has granted the underwriters a 45-day option to purchase up to an additional 3.75 million units to cover over-allotments.

Statistics:

  • 25 million units issued at $10 per unit, raising $250 million in gross proceeds.
  • 1.25 billion Eagle Share Rights issued with each unit, representing a 1/20th interest in Class A ordinary shares.
  • 3.75 million additional units available for underwriters to purchase upon exercise of the 45-day option.
  • $250 million deposited into a trust account for potential initial business combination.

Sources:

  • GlobeNewswire (MIL-OSI) (Bold Eagle Features a Warrantless Structure Each Unit Includes One Class A Ordinary Share and One Eagle Share Right to Receive 1/20th of a Class A Ordinary Share)
  • U.S. Securities and Exchange Commission (SEC) (registration statement effective date: October 23, 2024)
  • Nasdaq Global Market ( listing symbol: BEAGU)

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