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12/3/2021, 3:29 AM (Source: TeleTrader)
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BuzzFeed to make its Nasdaq debut

BuzzFeed media company is going to make its debut on the Nasdaq after shareholders of 890 Fifth Avenue Partners approved a merger with the company.

"The transaction is expected to raise at least $166.2 million," BuzzFeed said in an SEC filing following the vote. The figure is less than was expected from the deal, as it only leaves $16 million for investor cash.

In June, BuzzFeed announced that it plans to go public after the merger. Since then, most of its investors withdrew and the company raised about $150 million in debt financing.

Baha Breaking the News (BBN) / NL