Home entertainment company Redbox said Monday it will go public in a merger with a SPAC called Seaport Global Acquisition Corp.The transaction will result in Redbox becoming a publicly traded company with an enterprise value of $693 million.
Upon closing, Redbox’s common stock is expected to trade on Nasdaq under the ticker symbol RDBX.As part of the transaction, all existing shareholders will roll 100% of their equity in Redbox, including funds managed by affiliates of Apollo Global Management which acquired Redbox through the acquisition of Outerwall in September 2016.
Upon close of the combination, these existing shareholders will hold approximately 59% of the outstanding common stock.Redbox, a leader in quality home entertainment for
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