Group Nine's Blank-Check Company Goes Public, Seeks to Raise $200 Million

Expect more SPAC offerings in 2021

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Digital media publisher Group Nine Media, whose brands include Thrillist, NowThis, The Dodo and Seeker, is readying itself for a buying spree.

After forming a special purpose acquisition company (SPAC) last month, the publisher began trading today. It has set out an initial public offering of 20 million units at $10 apiece, for total gross proceeds of $200 million.

Group Nine Acquisition Corp. was created with the goal of “carrying out a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses or entities.”

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