Jeff Sagansky and Harry Sloan have launched their fifth public acquisition fund with a $400 million initial public offering.
The sponsor of the new investment vehicle, Diamond Eagle Acquisition Corp., is Eagle Equity Partners, of which Sagansky is a member. The management team also includes Eli Baker as president, CFO and secretary. Sloan, who co-led four prior investment outfits with Sagansky, is also a founding investor in Diamond Eagle.
Each unit issued in the IPO consists of one share of Class A common stock and one-third of one warrant to purchase one share of Class A common stock at an exercise price of $11.50 per whole share.