A SPAC is a publicly traded firm created to acquire or merge with an existing company.“It is rare for a holding company with many subsidiaries to go public through a SPAC in Korea and the US,” said a Global Star official.“The SEC spent a lot of time identifying and reviewing the deal structure.” COALITION OF SIX MAJOR PLAYERSK Wave is a holding company of six local entertainment operating firms such as Solaire Partners Ltd., a Seoul-based private equity firm that has invested in some of the highest-grossing films, including the Oscar-winning Parasite.
K Wave Media Ltd., an umbrella entity of South Korean entertainment companies, is set to go public on the Nasdaq next month to raise money from global investors for content production and strengthen its bargaining power in talks with giant content distributors such as Netflix Inc.
Bidangil Pictures, the producer of Space Sweepers, an outer space sci-fi blockbuster, which topped the Netflix movie charts in 2021, joined the group.The Lamp Co., which produced A Taxi Driver, a hit film based on a true story during the 1980 pro-democracy demonstrations, Apeitda Production behind The Witch and Studio ANSEILLEN – as well as one IP merchandising company – Play Company also participated in the entity.
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