Lionsgate to spin off Studio Business via $4.6B EV combination with Screaming Eagle SPAC

STARZ ENTERTAINMENT CORP /CN/

Lionsgate Studios valued at ~$4.6B enterprise value; will trade as a separate single-class stock.
Deal expected to raise ~$350M gross ($175M PIPE led by top mutual funds; ~$175M from Screaming Eagle trust).
Lionsgate retains 87.3% of Lionsgate Studios; Screaming Eagle public, founders, PIPE own ~12.7%.
Net proceeds to enhance Lionsgate balance sheet and fund eOne acquisition (closing by year-end 2023).
Closing expected spring 2024, subject to regulatory and Screaming Eagle shareholder/warrant holder approvals.

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