Smith said Redbox’s goal was to become a “one-stop entertainment shop.” Free Live TV has drawn 1 million monthly active users, according to the company. Getting up to speed on SPACs, he said, was “a great learning experience.” As to why Redbox chose the SPAC route, Smith said, “In a lot of ways it can be a lot faster and more efficient” than a more traditional IPO. One of his early stints as a junior investment banker at Morgan Stanley, he recalled, involved working on approaches to a public offering for Redbox, which was founded in 2002. UTA's Gaming-Focused SPAC Sets IPO, Aiming To Raise $200 MillionĬEO Galen Smith told Deadline he had not been well-versed in the nitty-gritty of SPACs until the past year despite having held several finance-focused positions in his career.
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