Paramount Skydance closes merger with Skydance, $6B PIPE; PSKY lists on Nasdaq

Paramount Skydance Corp

On Aug 7, 2025, merger closed; Paramount shareholders received $23/sh or 1.5333 PSKY shares (Class A) or $15/sh cash or stock (Class B).
NAI Equity Investors (Pinnacle/RedBird) bought NAI and, with a Skydance affiliate, invested $6B for 400M PSKY shares at $15/sh and 200M warrants at $30.50.
Paramount Skydance (ticker PSKY) is successor issuer; Class B Common Stock trades on Nasdaq. Former Paramount governance agreement terminated.
Class B cash elections were oversubscribed; proration applied so ~60.9% of electing shares received $15/sh cash, remainder stock.
Post-closing, 1.064B Class B shares outstanding; NAI holds all 31.5M Class A shares (not listed).

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