NEW YORK--(BUSINESS WIRE)--Soaring Eagle Acquisition Corp., the seventh public acquisition vehicle led by Eagle Equity Partners’ Harry Sloan, Jeff Sagansky and Eli Baker today announced the closing of its initial public offering of 172,500,000 units, including 22,500,000 units issued pursuant to the exercise by the underwriters of their over-allotment option in full, at a price of $10.00 per unit. Each unit issued in the initial public offering consists of one Class A ordinary share and one-fifth of one warrant to purchase one Class A ordinary share at an exercise price of $11.50 per share. The units are listed on the Nasdaq Capital Market (“Nasdaq”) and began trading under the ticker symbol “SRNGU” on February 24, 2021. After the securities comprising the units begin separate trading, the Class A ordinary shares and warrants are expected to be listed on Nasdaq under the symbols “SRNG” and “SRNGW,” respectively.
Soaring Eagle Acquisition Corp. is a blank check company whose business purpose is to effect a merger, capital share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. The Company’s efforts to identify a prospective initial business combination target will not be limited to a particular industry, sector or geographic region. While the Company may pursue an initial business combination opportunity in any industry or sector, it intends to capitalize on the ability of its management team to identify, acquire and operate a business or businesses that can benefit from its management team’s established global relationships and operating experience. The Company’s management team has extensive experience in identifying and executing strategic investments globally and has done so successfully in a number of sectors, including media and entertainment.
The Company’s sponsor is Eagle Equity Partners III, LLC, of which Harry Sloan, Jeff Sagansky and Eli Baker are Managing Members. Harry E. Sloan, who co-led six prior public acquisition vehicles with Mr. Sagansky, is the Chief Executive Officer and Chairman of the Company. Joining Mr. Sloan in the management of the company is President, Chief Financial Officer and Secretary, Eli Baker, who served as President, Chief Financial Officer and Secretary of three of Mr. Sagansky’s prior public acquisition vehicles, Vice President, General Counsel and Secretary of another of Mr. Sagansky’s prior public acquisition vehicles and as a director of another of Mr. Sagansky’s prior public acquisition vehicles.