SCRM
Screaming Eagle Acquisition Corp
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Can someone smarter then me explain why Yahoo says institutions hold 404% of SCRM: [https://finance.yahoo.com/quote/SCRM/holders](https://finance.yahoo.com/quote/SCRM/holders)
Full Porting two SPACS Lions Gate Entertainment (SCRM) Webull (SKGR)
A few observations: * Market is expecting this deal will close (warrants trading very close to the 50c buyout price which will likely occur concurrent with closing). * The maximum proceeds of $175M from the trust is interesting - investors in SCRM will get a mix of cash from trust and Lionsgate shares if redemptions are low enough to leave >175M in trust (current trust is $785M). Essentially you are forced to redeem some of your shares @ $10.70 per share if redemptions are lower than about 78%. This reduces likelihood of SCRM going over NAV prior to merger meeting as even if you think Lionsgate Studios are worth $12 a share you would be better off waiting till after merger because in a low or no redemption scenario you are getting back mainly cash @ $10.7 per share and a low proportion of shares. * Deal seems overvalued. Each share of LGF.A & LGF.B will own $11.39 per share of Lionsgate stock at the announced valuation. Currently LGF.A & LGF.B are trading at $10.71 and $10.04 respectively. Implies the remaining media networks segment (that will continue to trade under the LGF.A/B ticker) has no value however most of the debt is going to Lionsgate Studios and the media segment contributes around 40% of total OIBDA. Hard to see how there's no value on that. Either LGF.A/B are undervalued or this deal is overvalued.
There were signs that SCRM was up to something with their spending and how they only requested a 3 month extension, but I don't think anybody thought Lionsgate was looking to branch off and go public. I was lucky I picked up a couple thousand warrants at 10 cents to fund my Christmas shopping for the year. Should had gone with my gut and picked up 10x more, though. 4.6 billion seems high but not outrageous. Probably will drop to $6-7 post merger. There are plenty of catalysts, though, every time a new John Wick comes out until Keanu is 85 years old.
Would definitely buy their next one if they do another. Even their duds got done and had big return window for warrants. Kept looking at SCRM warrants on my watchlist and figured that was the one probably worth the risk.
I have MIA for quite some time. But anyone here who played SCRM, congratulations! I wish I had the guts to do it, but I never pulled the trigger. Well done, and I'm glad there is a microfraction of life in SPACland.
>SCRM Up $.06 on (IMHO) the biggest SPAC news in months : ( Reminds me I wasn't going to pay attention to SPACs any longer : )
finally, a legitimate company is going public via spac... Lionsgate merging w SCRM
SANTA MONICA, Calif. and VANCOUVER, BC, Dec. 22, 2023 /PRNewswire/ -- Lionsgate (NYSE:[LGF](https://www.benzinga.com/stock/LGF#NYSE), LGF.B))) today announced that its Studio Business, comprising its Television Studio and Motion Picture Group segments and one of the world's most valuable film and television libraries, will be combined with Screaming Eagle Acquisition Corp. (NASDAQ:[SCRM](https://www.benzinga.com/stock/SCRM#NASDAQ)) ("Screaming Eagle") to launch Lionsgate Studios Corp. ("Lionsgate Studios"). Screaming Eagle is a publicly-traded company formed to merge with existing businesses. $SCRM ! OMG :D
That reminds me. Still waiting for OF to go SPAC. SCRM would be the perfect shell company.
I'm hoping there's something to SCRM for soon! Waiting has been a BREZ!
$SVII may be a good choice but $SCRM not so much...
Similar with SCRM-WT that several had been mentioning here often last week, due to super high volume. Now it’s down 75%. Things turn very quickly with so little volume on warrants.
Looks like SCRM 10q cleared up the Nav question some people were having. They started the Spac craze, they can bring it back.
What is NAV on SCRM and their deadline? May park cash there. I'm scaling into a new ETF as well lol.
Maybe SCRM or LMACA but if they do spac they'll probably go to some random Chinese Spac nobody has ever heard of and the earliest retail will be able to buy in is at $30.00
3.5x avg volume on SCRM today for 706k shares traded. I didn't buy in but am following it. Kinda interesting.
Agree. I got a good amount of shares at 9.70. Draftkings was great and Ginko is awesome too but the deal was done when valuations were flying. Then by the time they closed the deal was the downfall of the spac market. Skillz was disappointing. Can't believe that hit 40 something. But if anyone is going to bring spacs back, SCRM would be a good bet.
This. SCRM isn't liquidating, not yet anyway. As you said, the Eagle boys are like the OGs of this space. I'm holding a bunch of their units. They're under NAV, it's a no-brainer for me. These guys are good at making deals. DraftKings and Ginko are, or at least were unicorns. Separate units, redeem shares, ride the potential warrant boom. DNA may have taken a beating, but if you got those warrants for free, I could see them having considerable upside in a few years.
Guys, whomever is CASH and is looking for good opportunities - I'd go all in in SCRM. The only reason I don't have it is that I don't know when exactly they will announce early liquidation. And I have to pay a lot of interest - maybe if hold 10000 shares for 1 month, I will pay around 550-600 dollars maybe. If they liquidate at the end of december, I will be barely up from the trade.
do you think SCRM will try to liquidate soon ?
I'm going to full port SCRM and collect my 3% when it liquidated /s (maybe)
Fine I'll dump it into SCRM or DHCA
Bought 2000 shares of SCRM at 9.70. While they haven't had much success since Draft Kings, at 9.70 definitely nothing to lose.
Some things I've been doing other than lose my money on spacs... if anyone wants some other ideas - I think BTU is set run to $30+ by YE with the amount of cash they have for buybacks. RIG - is probably more like spacs in its like gambling as they have debt issues, but if they make it through should be some pretty solid leverage. Playing some short term calls, but the 2024 probably not bad. TK has their MC in cash and then another $200m in TNK stock - who knows if they will invest in a new venture or distribute the cash. NETI is a offshore wind vessel company that is set to announce contracts soon and has a $50m buyback as they are 50% below NAV. As for spacs about all I am doing is accumulating SCRM warrants and trying to penny flip others.
I still have orders sitting for $.11 to avg down. Also have orders on SCRM at $.22
They had 18months and I think it was March 2023. Issue was they didn’t have a built in extension and language I thought that said they wouldn’t extend. As for LFTR and IGAC I have no idea. I really liked both and thought they had it to. I think IGAC specifically fell thru and LFTR with what crypto is going through is tough since they need money and SPACs aren’t providing actual cash right now. Right now I’m leaning towards many big names/good sponsors will liquidate as opposed to bring a crappy deal. But teams like KCGI, DCRD, Gores, SCRM have done several deals so think they still may be alright but the one off ones with what we called good teams may just not do it.
I’m leaning towards most are going to $0. Even the DAs ones aren’t great. I mean COVA at $.1, KCAC $.2, LGTO at $.3. I guess if you bought at $.05-$.1 then that’s good but considering my averages are up above $.5 it sucks. But money is so little now I’m just letting it play out. Am consolidating some tho, such as selling $.08s for DCRD at $.11. Still think they get a deal. Also pickup up SCRM at $.22 since they have u til January 2024
Cash gang, Screaming Eagle Acquisition Corp (SCRM) commons are currently at $9.63 and Units are at $9.72. Units come with 1/3rd warrant and those are currently trading at $.36 but I honestly don't expect them to stay that high in this current market and their deSPAC's are not performing well. They IPO'd ($750 MM trust) 01/06/2022 and have 24 months to find a target or 27 months if they signed a DA. Might be a safe place to park some cash for a while. They have been generally pretty quick to DA but no telling in this current market.
Really no reason at all for OF to go through ALTU. They need a partner that actually provides value not just money. One that would provide value and a ton of money would be SCRM
I think so. SpacTrack doesn’t have them listed as a serial sponsor, so don’t remember them all. Gotta do a little research and found this… SPNG (Spinning Eagle) $2b -> pulled SCRM (Screaming Eagle) $750m January 5th so going on 4+ months SRNG (Soaring Eagle Feb 24 2021) -> DNA may 11 so roughly 2.5months FEAC (Flying Eagle March 6 2020 $725m) -> SKLZ September 2 so ~6 months DEAC (Diamond Eagle May 2019) -> Draft Kings December 2019 so ~7 months EAGL (Platinum Eagle January 2018) -> Target Hospitality November 2018 so 10 months EAGL (Double Eagle September 2015) -> Will Scott August 2017 so nearly 2years EAGL (Silver Eagle July 2013 $325m) -> Videocon d2h January 2015 so 1.5yrs EAGL (Global Eagle May 2011 $190m) -> Advanced Inflight -> Global Eagle Entertainment on November 2012 so 1.5yrs
any guesses on what SCRM might take public?
Ya I’ve accumulated DMYS and SCRM. Think highly likely both get a deal but honestly surprised DMYS isn’t down more considering how the despacs have been
Hi SPACers. I’ve been super busy leading a project a work. Can’t pay much attention to my investments or to Reddit. My best investment this year is 700 SCRM units. I’m still in TQQQ with my whole Roth IRA. My VIX puts are about to expire worthless.
SCRM had some pretty decent volume chasing it higher. Same with AVAN. Someone really really wanted AVAN. Hindsight shoulda placed that $.25 order earlier in the week. No DA Monday and probably back near there
Think the Eagle crew has anything in mind for SCRM?
Here is what I commented in my post last week. Just a theory but I think they leaked it so that people knew they weren’t in talks or to make it clear? I don’t think it’s a failure, I think they wanted it known maybe for image. Just a theory though. So doing some more digging tonight on Twitter and noticed all of the Forest Road team follows the 2 writers on the Axios Article Sara Fischer and Dan Primack. The FRX team also have several connections to the UTA team with Kathy Vrabek and many follow each other. Further the forest road team and specifically Kevin Mayer this weekend were in France at a big MIP event and launched a deal with Candle Media, Hello Sunshine, and Moonbug entertainment and Candle media is going all in on supporting creators. “We’re creating a new definition of what a media company is. We’re building a home for creator-first, independent, multi-platform content brands” since Forest Road was the only team mentioned in the article they specifically released it before this event and unveiling to ensure no one was questioning if they heard them involved with OF? Not sure this directs them towards UTAA but UTAA is the only SPAC that seems the forest road team is following? Just trying to find any tracks to UTAA or other SPACs also. In the August 2021 article it stated that OF hired Raine group to look for investors. Raine group is invested in Beachbody & Moonbug (FRX), DraftKings (SCRM), Houseparty & Imagine (UTAA), System 1 (TREB) and Raine working with Foley for Chelsea.
They did start up Screaming Eagle (SCRM) in February...
How about $SCRM? (Scream Eagle) This team snatched DraftKings, Skillz and Ginkgo Bioworks. SRNG got Ginkgo very shortly after IPO, before the units even split. Them announcing a DA with OnlyFans is feasable. SCRM has been out since January and they have $750 million in their trust. Enough to overvalue OnlyFans like they did with DNA.
Media spacs in the 400m+ range (which seems to be the right range for OF’s new higher valuation): HZON - 500m LMACA - 500m SCRM - 750m ARGU looks interesting- only 300m BUT: “"businesses in the media/entertainment/sports industry including “over-the-top” digital streaming, mobile gaming/interactive entertainment, digital media including advertising/marketing technology, health and wellness/lifestyle, live events/experiential consumer-facing technology, and related industries"” Also some targets being discussed for other reasons on r/spacs - AVAN - 750m IGAC - 375m IPOD - 575m IPOF - 1438m “OF”! MAQC - 224m
>*SCRM - 750m* I immediately thought abouy Harry Sloan, but $750M is too big. At a 20% slice that would be closing in on a $4B valuation.
Good points. Found these; HZON - 500m LMACA - 500m SCRM - 750m
Definitely agree. I'd add a couple more IPOD IPOF DMYS DCRD best ones to have imo. Honorable mentions to FMIV SVFA SCRM