John Hendricks’ CuriosityStream Enters Into $331M Reverse Merger to Become a Publicly Traded Company
CuriosityStream, the nonfiction streaming company headed by Discovery Channel founder John Hendricks, is going public through a reverse merger with a firm set up to execute just such a roll-up deal.
CuriosityStream is combining with Software Acquisition Group Inc., a special purpose acquisition company that raised about $150 million in November 2019. The merger is valued at $331 million, with the new entity carrying an equity value of approximately $512 million, according to the companies.
Technically, Software Acquisition Group is acquiring CuriosityStream (and the new company will adopt the CuriosityStream name). Following the deal closing, Hendricks will remain chairman as well as the combined company’s largest shareholder.
Launched in 2015, CuriosityStream says it now has more than 13 million paying subscribers worldwide for the service, which offers an array of 3,100-plus titles including original docuseries, films and specials spanning science, nature, history, technology, society and lifestyle.
“CuriosityStream has the unique advantage of being a ‘pure...
CuriosityStream is combining with Software Acquisition Group Inc., a special purpose acquisition company that raised about $150 million in November 2019. The merger is valued at $331 million, with the new entity carrying an equity value of approximately $512 million, according to the companies.
Technically, Software Acquisition Group is acquiring CuriosityStream (and the new company will adopt the CuriosityStream name). Following the deal closing, Hendricks will remain chairman as well as the combined company’s largest shareholder.
Launched in 2015, CuriosityStream says it now has more than 13 million paying subscribers worldwide for the service, which offers an array of 3,100-plus titles including original docuseries, films and specials spanning science, nature, history, technology, society and lifestyle.
“CuriosityStream has the unique advantage of being a ‘pure...
- 11/8/2020
- de Todd Spangler
- Variety Film + TV
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