White & Case Has Advised Screaming Eagle Acquisition Corp. on its US$4.6 Billion Business Combination with Lionsgate’s Studio Business and Related US$350 Million Financing

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Global law firm White & Case LLP has advised Screaming Eagle Acquisition Corp., a special purpose acquisition company (SPAC), on its US$4.6 billion business combination with the studio business of Lions Gate Entertainment Corp. (Lionsgate), which closed on May 13, 2024, creating Lionsgate Studios Corp., one of the world's largest standalone pure play, publicly-traded content companies.

Shares of the post-business combination company, Lionsgate Studios, began trading on Nasdaq on May 14, 2024 under the ticker symbol "LION”. Lionsgate Studios is comprised of Lionsgate's Motion Picture Group and Television Studio segments and has a 20,000-plus title film and television library. In connection with the transaction, White & Case LLP also advised on the related US$350 million financing from leading investors.

Screaming Eagle is the eighth SPAC sponsored by the Eagle Equity Partners team, led by Harry E. Sloan, Jeff Sagansky and Eli Baker, for which the White & Case team has advised on both its initial public offering and business combination transaction.

The White & Case team was led by Capital Markets partners Joel Rubinstein and Jonathan Rochwarger and M&A partners Morton Pierce (all in New York) and Neeta Sahadev (Silicon Valley). The team also included Capital Markets associates Sarah Ross, Guiying Ji (both in New York) and Jordan Leon (Washington, DC); M&A associates Marina Safonova and M.K. Kang (both in New York); and Tax partner Scott Fryman and associate Adriana Zhan (both in New York). Law clerks Elana Cates, Matt Shafman and Anisha Sivathas also assisted on the matter.

White & Case has advised on more than 130 IPOs for SPACs and underwriters valued at over US$40 billion and on more than 60 business combination transactions for SPACs and target companies valued at over US$100 billion.

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