CuriosityStream Inc, a subscription streaming service for science, technology and history documentaries, announced it has agreed to go public through a merger with blank-check company Software Acquisition Group Inc.
Software Acquisition is a special purpose acquisition company (SPAC) which raised about $150 million in November last year in its initial public offering.
CuriosityStream, launched by Discovery Channel founder John Hendricks in 2015, will list on Nasdaq under the symbol “CURI”.
A SPAC is a shell company that uses IPO proceeds to buy another company, typically within two years, in a merger that will take the acquired company public. Investors are not notified in advance on what company the SPAC will buy.
Stifel is CuriosityStream’s financial adviser, while B. Riley FBR is acting as Software Acquisition’s financial