Why Binance a world-leading cryptocurrency and blockchain technology company could invest in a $400 million PIPE with pre-determined terms.
Magnum Opus Acquisition Limited (NYSE: OPA) (“Magnum Opus”), a publicly traded special purpose acquisition company, and Forbes, the iconic business information brand that convenes and curates the most influential leaders driving change, today announced a $200 million strategic investment from Binance, one of the world’s largest cryptocurrency and blockchain infrastructure providers.
Forbes and Magnum Opus had previously announced plans to explore a business combination that would see Forbes become a publicly traded company on the New York Stock Exchange, with the ticker code “FRBS.” The deal is expected to finalize in Q1 of 2022. Forbes will be able to build on its successful digital transformation by leveraging technology and data-driven insights to build more deeply engaged readers, as well as associated high-quality and recurring revenue streams, after it goes public.