Forbes IPO move
Major cryptocurrency exchange Binance will make a $200 million investment in Forbes. The media firm prepares to go public via a special purpose acquisition company (SPAC). SPACs are shell companies that raise money in an initial public offering.
The investment by Binance will replace half of the $400 million in private placement commitments. This was announced by Forbes and SPAC company Magnum Opus Acquisition Limited. The deal is expected to close by the end of March, Forbes, and Magnum Opus said.
Binance will help advise Forbes on its digital asset and Web3 strategy.In February last year, Binance dropped a lawsuit against Forbes
