Falcon Capital Acquisition, a blank check company formed by Ariliam Group and Eagle Equity Partners targeting a media business, filed on Thursday with the SEC to raise up to $300 million in an initial public offering.
The New York, NY-based company plans to raise $300 million by offering 30 million units at $10. Each unit consists of one share of common stock and one-third of a warrant, exercisable at $11.50. At the proposed price, Falcon Capital Acquisition would command a market value of $375 million.
The company is led by CEO and Chairman Alan Mnuchin, who serves as CEO of principal investment and strategic consulting firm Ariliam Group, and CFO Saif Rahman, who serves as managing director and COO of Ariliam Group. Director Jeff Sagansky, a Principal of Eagle Equity Partners, is a SPAC veteran; Sagansky has formed six SPACs to date. The company plans to target businesses in the media, digital media and consumer technology, interactive entertainment, and related industries.
Falcon Capital Acquisition was founded in 2020 and plans to list on the Nasdaq under the symbol FCACU. The company filed confidentially on June 26, 2020. Goldman Sachs is the sole bookrunner on the deal.