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Redbox Closes Merger With SPAC Seaport Global, Confirms IPO Date

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deadline.com

Redbox, the 19-year-old entertainment mainstay known for its network of disc-dispensing kiosks, will become a public company on Monday.The company confirmed the date of its long-planned initial public offering after closing its merger with special-purpose acquisition company Seaport Global.

The SPAC deal, announced last May, values the combined company at $693 million.The network of 40,000-some Redbox kiosks outside grocery stores and other retailers isn’t likely to disappear anytime soon despite the decline of physical disc sales.

Data from nearly two decades of kiosk transactions is being used to guide decisions in the company’s expanding production and acquisition arm.

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