The SHAQ SPAC may not be a joke but it’s definitely a celebrity hype train for a capital raise, either way NBA Legend: O’Neal has been around the stock market for awhile. Shaq was an early investor in Google, Papa John’s, Star bucks and was an early investor in Ring, the home security company acquired by Amazon.
It’s fun saying SHAQ SPAC but the company bringing the filing forward is Forest Road Acquisition Corp and suggests it might be looking in the streaming media direction as it loosely states companies related to “consumer behavior fundamentally changing; cutting-edge technologies facilitating new offerings; evolving ecosystem reshaping traditional business models; and companies in need of capital due to idiosyncratic market conditions.”
Forest Road Acquisition Corp SPAC What We Know.
Leading charge of Forest Road SPAC Stock will be CEO Zachary Tarica followed by a team of experts including Former Disney Chief Operating Officer Tom Staggs who will be chairperson of its strategic advisory committee, and former Disney strategy exec Salil Mehta will be chief financial officer. Shaq will be listed as a strategic adviser or what I like to call the hype train 😉
- It filed to list on the NYSE under the symbol FRX.
- Forest Road filed for $250,000,000 capital raise with loose directions on it’s exact focuses but interrupt the filing as listed below…
- The company is quoted seeking “new audience aggregation platforms transforming the TMT landscape; premium intellectual property driving significant value expansion; consumer behavior fundamentally changing; cutting-edge technologies facilitating new offerings; evolving ecosystem reshaping traditional business models; and companies in need of capital due to idiosyncratic market conditions.”
Why Forest Road Stock NYSE: FRX Is A Buy When Listed.
The SPAC scene has never been more lit then it is now providing investors with the ability to essentially be un accredited angel round investors. Unlike regular angel rounds though you have no initial idea what your buying, instead your putting your money into a team of experts and trusting there judgment. This team of experts how ever will be worth the bet for one reason hype and attention.
The biggest problem for SPACs is before they find an acquisition target they have to publicity raise capital which is why only popular ideas ” Like Electric Vehicles” or famous investors ” Like Bill Ackman” are able to do so. I assume with ex Disney execs and Shaq likely helping fund the SPAC this will appear more and more in the media as time goes on.
I will be keeping my eye on this one just to see the hype train unfold! With Shaq recently appearing in movies like Adam Sandlers – Hubie I am sure he won’t have a problem promoting his investment endeavours, ever hyping the stock!
What Is A SPAC Stock
Special-purpose acquisition companies are publicly traded entities that raise pools of cash to acquire an existing business and make them public. As of late they have become increasingly popular Read more here