LMACU - Liberty Media SPAC prices $500M initial public offering
Liberty Media Acquisition Corp. (LMACA) - the special-purpose acquisition company sponsored by Liberty Media - has priced its 50M-share initial public offering at $10 per unit. The units (LMACU) are set to begin trading on Nasdaq today. Each unit consists of a share of Series A common stock and one-fifth of a redeemable warrant; each warrant can be exercised for one share of Series A common stock at $11.50/share. (Only whole warrants are exercisable.) The management team, led by Liberty's Greg Maffei, will search for an acquisition target in the media, digital media, music, entertainment, communications, telecommunications and technology industries. Liberty's ownership interest will be attributed to the Formula One Group tracking stock (FWONA). Other related Liberty Media tickers: [[LSXMA]], [[BATRA]].
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Liberty Media SPAC prices $500M initial public offering