Group Nine Media raises US$200m for merger via IPO

Group Nine Media, which owns digital brands including Thrillist, Popsugar, NowThis, Dodo and Seeker, has announced a US$200 million Initial Public Offering via its special purpose acquisition company.

The offering for Group Nine’s blank check holding company will be priced at US$10 per unit for an initial 20 million units, and Group Nine plans to combine its operations with another, as yet unnamed business in the digital media space.

It’s now trading on Nasdaq under the ticker symbol GNACU; the offering is expected to close on 20 January.