Redbox Merging to Become Publicly-Traded Standalone Company [MPN]

A Redbox kiosk will now have 4K UHD Blu-ray discs.

Redbox Merging to Become Publicly-Traded Standalone Company [MPN]

By Erik Gruenwedel

May 17, 2021 | Redbox May 17 announced it has entered into a definitive agreement to combine with Seaport Global Acquisition Corp., a publicly-traded special purpose acquisition company. The transaction will result in Redbox becoming a publicly-traded company with an enterprise value of $693 million. Upon closing, Redbox’s common stock is expected to trade on Nasdaq under the ticker symbol RDBX.

Galen Smith, who has served as Redbox’s CEO since 2016, will continue to lead the company along with the existing management team.

Read more on Media Play News.

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