What has driven the #AMCArmy of retail investors to drive the share price of AMC sky high has been the fact that the world's largest movie theatre chain was pushed to the edge of bankruptcy by the Covid-19 pandemic. But AMC's problems are not unique. The entire movie industry, from production to exhibition, has been devastated by the pandemic and many companies have struggled just like AMC.More From InvestorPlace Stock Prodigy Who Found NIO at.
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Redbox Goes Public in SPAC Transaction
Seaport Global Acquisition agrees to a $693 million deal with the entertainment retailer.
Redbox Inc., the provider of red kiosks found in front of supermarkets and drugstores, will move to a new home on the Nasdaq exchange.
The Oakbrook Terrace, Ill., entertainment company agreed May 17 to go public through a merger with special purpose acquisition company Seaport Global Acquisition Corp. (SGAM).
The transaction, valued at $693 million, calls for Redbox to receive $145 million from Seaport’s trust account and another $50 million from a private placement. Investors in the private placement include Ophir Asset Management, Lions Gate Entertainment Corp. (LGF.A), Legendary Entertainment and Screenvision.