Kew Media's $70 mln IPO creates Canada's latest SPAC

Kew Media Group Inc has closed its initial public offering of Class A restricted voting units at $70 million. The offering, the size of which may increase via an over-allotment option granted to underwriters, will create a special purpose acquisition corporation (SPAC). Toronto-based Kew Media intends the SPAC to focus on one or more acquisitions of small-to-medium sized media production, distribution and talent management opportunities in North America and the United Kingdom. Torys Partner John Emanoilidis wrote about the recent rise of SPACs in Canada in a PE Hub Canada feature article published in December.

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