Forbes Announces Termination of SPAC Transaction
June 01 2022 - 8:30AM
Business Wire
Forbes Global Media Holdings Inc., the iconic business
information brand that convenes and curates the most influential
leaders driving change, announced today that its shareholders have
terminated the Business Combination Agreement with Magnum Opus
Acquisition Limited (NYSE: OPA), a special purpose acquisition
company.
Forbes announced record revenue and earnings last year, and has
already exceeded the business forecast for 2022 it outlined in its
initial investor deck.
“The Forbes brand is a sought-after and trusted brand with more
than 100 years of equity that is synonymous with success and
validation,” said Mike Federle, CEO, Forbes. “Our digital
transformation has delivered double-digit revenue and EBITDA growth
over the past year, which not only significantly outperformed the
financial targets provided at the start of the SPAC transaction
last year but continues to deliver high quality cashflows and
compelling year-over-year and sequential growth since then. This is
a testament to the incredible team we have assembled at Forbes that
is delivering across our Media, and Brand Extensions business, as
well as our newer consumer conversion strategy that has shown
triple digit revenue growth over the past two years.”
About Forbes
Forbes champions success by celebrating those who have made it,
and those who aspire to make it. Forbes convenes and curates the
most influential leaders and entrepreneurs who are driving change,
transforming business and making a significant impact on the world.
The Forbes brand today reaches more than 150 million people
worldwide through its trusted journalism, signature LIVE and Forbes
Virtual events, custom marketing programs and 47 licensed local
editions in 80 countries. Forbes Media’s brand extensions include
real estate, education and financial services license
agreements.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20220601005748/en/
Investors: ICR Ashley DeSimone Ashley.DeSimone@icrinc.com
(646) 677-1827
ICR Brett Milotte Brett.Milotte@icrinc.com (332) 242-4344
Press: Bill Hankes bhankes@forbes.com (206) 883-7658
Magnum Opus Acquisition (NYSE:OPA)
Historical Stock Chart
From Jun 2024 to Jul 2024
Magnum Opus Acquisition (NYSE:OPA)
Historical Stock Chart
From Jul 2023 to Jul 2024