TV advertising platform MNTN, which counts among other members of its management team Hollywood actor Ryan Reynolds, is in discussions with Morgan Stanley to IPO early next year. Precise details are still being ironed out, including which financial institutions will be participating.
MNTN provides software that lets brands create and manage advertising campaigns on CTV (Connected TV) platforms. It delivers a suite of technology, measurement and targeting tools.
Reynolds and George Dewey, who worked together on the first two Deadpool movies, founded Maximum Effort Marketing in 2018, which spearheaded the campaign for Aviation Gin. Their company was acquired by MNTN in June 2021. The company has since raised USD 119mn in a Series D financing round. This was co-led by funds and accounts managed by BlackRock and Fidelity Management & Research.
MNTN will undoubtedly capture interest if it goes to market next year, given the Hollywood stardust that surrounds it. The company is also operating in the very hot area of connected TV and viral advertisements.
Reynolds has previous history in lucrative business deals, having sold Mint Mobile to T-Mobile US at a valuation of USD 1.35bn. The aforementioned Aviation Gin was sold to Diageo for USD 610mn in 2020.
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Jackson Acquisition II: new SPAC goes after healthcare companies
SPACs are not dead it seems: Jackson Acquisition II looks to be the latest cash shell to hit the US market, filing last week to raise USD 200mn in an IPO. Some 20m units are coming to the market, priced at USD20 each. All stock comes with a warrant, exercisable at USD 11.50.
The SPAC is being chaired by Richard Jackson, CEO of healthcare staffing company Jackson Healthcare. Also on board in the CFO position is David Lawrence, who previously held C-suite positions at Neurotrauma Sciences and Acorda Therapeutics.
The SPAC is looking to make acquisitions within the healthcare sector, focusing in the main on closely held but market leading companies. This is not the first outing for Jackson: his previous SPAC, Jackson Acquisition, was listed in 2021 and liquidated in the summer of 2023. Among those involved with that venture was former presidential candidate Jeb Bush.
Roth Capital is the sole bookrunner on this deal.
OMS Group hints at Asian regional IPO
OMS Group, the Malaysian subsea cable services company, said IPO plans are back on the table, including a possible local listing in Malaysia. The company had originally been planning an IPO last year, but instead took on USD 400mn in investment from private equity group KKR.
OMS secured a further USD 292mn in loans from a syndicate of banks in June 2024, put together by KKR. The capital will help the company to expand, including the addition of newly built ships to its existing fleet. The company is also growing an interconnect managed services division which includes cable landing stations and subsea cable routes.
Further plans include expansion into key regional markets like Vietnam and the Philippines. The company aims to become a major player across the Southeast Asia market.
