Liberty Media Corporation Launches SPAC: What Investors Should Know

Liberty Media Corporation, one of the largest media companies in the U.S., is entering the SPAC market with a newly announced IPO.

About Liberty Media Corporation: The sponsor of the SPAC offering is Liberty Media Corp. The company is the owner of The Liberty Braves Group BATRA, Formula One Group FWONA and The Liberty SiriusXM Global LSXMA.

SPAC CEO: The SPAC will be led by Gregory Maffei. He's the CEO of Liberty Media Corp., Liberty Broadband Corp., GCI Liberty and Liberty TripAdvisor.

Maffei is also the chairman of Qurate Retail, Live Nation Entertainment LYV, SiriusXM Holdings SIRI and TripAdvisor Inc TRIP.

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The Offering: Liberty Media Acquisition Corporation (NASDa Q: LMACA) will sell 50 million units that are good for one common share and one-fourth of a warrant with an $11.50 price.

The sponsor has committed to purchase up to 10 million warrants at $1.50 each in a private placement. The sponsor will also buy 250 million in units at $10. Liberty Media Corp. owns 14,375,000 founder shares prior to the IPO.

The SPAC units will trade as LMACU and then split to common shares (LMACA) and warrants (LMACW) around 52 days after the offering.

SPAC Target: Liberty Media Acquisition Corp. is seeking a company in the media, digital media, music, entertainment, communication, telecommunications or technology field.

Among the criteria for a target company are strong growth trajectory, need to scale, stable free cash flow generated and a potential industry consolidator.

Posted In: Gregory MaffeiJohn MaloneLiberty Media CorporationSPACSPACsNewsSmall CapIPOs