Haven't seen this posted here.
Key points:
The transaction will result in Redbox becoming a publicly traded company with an enterprise value of $693 million.
The transaction, approved unanimously by the boards of both companies, is expected to close in the third quarter of 2021. At that point, Redbox’s common stock is expected to trade on Nasdaq under the ticker symbol “RDBX.” The transaction is being funded by a combination of $145 million of cash held in the trust account of Seaport Global Acquisition and a private investment in public equity (PIPE) commitment of $50 million led by Ophir Asset Management.
After the deal closes, Redbox expects to have approximately $209 million in cash that will be used to pay down existing debt and fund digital expansion, content acquisition and marketing initiatives.
According to Redbox, it generated $114 million of adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) in 2020.
https://about.redbox.com/redbox-to-become-publicly-traded-company/
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My personal opinion, this could be an interesting opportunity especially since Redbox just started launching AVOD service like Tubi/Pluto TV.
They are but they have been making switch to digital. They're also doing avod (free shows/movies with ads) like pluto and tubi.
Redbox has few advantages here
They still have DVDs, revenues are not much but still revenues.
They do EST and VOD, 2 services Tubi and Pluto don't offer
Now they're offering AVOD.
Soon, I suspect they'll be doing originals just like any other service.
Submitted May 22, 2021 at 02:26AM by RagingHomo_DaPenis https://ift.tt/3bLv9CV
