Fans of big-budget special effects movies who are eager to get a piece of the financial action from these epics might be interested to learn that the Oscar-winning visual effects studio DNEG is going public.<\/p>\n
The London-based company is merging with Sports Ventures Acquisition Corp., a special purpose acquisition company (SPAC), in a deal that will bring DNEG to the Nasdaq stock exchange. DNEG carries a $1.6 billion valuation ahead of the merger.<\/p>\n
SPACs, also known as blank check companies, are publicly-listed shell firms that exist solely to bring privately owned company onto a stock exchange without requiring the need for an initial public offering. After the merger, the private company replaces the SPAC on as the publicly traded entity.<\/p>\n
DNEG has won six Academy Awards for its visual effects work on \u201cInception,\u201d \u201cInterstellar,\u201d \u201cEx Machina,\u201d \u201cBlade Runner 2049,\u201d \u201cFirst Man\u201d and \u201cTenet.\u201d In 2021, its work could be seen in \u201cNo Time to Die,\u201d \u201cDune\u201d and \u201cThe Matrix Resurrections.\u201d DNEG CEO Namit Malhotra told the Wall Street Journal the company is riding a new wave of interest from Hollywood.<\/p>\n
\u201cI\u2019ve never seen this type of demand uptick and a push toward quality and scale in the industry,\u201d said Malhotra. \u201cWe\u2019re on a massive expansion spree.\u201d<\/p>\n
Photo: A scene from “Blade Runner 2049.”<\/em><\/p>\n","protected":false},"excerpt":{"rendered":" Fans of big-budget special effects movies who are eager to get a piece of the financial action from these epics might be interested to learn that the Oscar-winning visual effects studio DNEG is going public.<\/p>\n","protected":false},"author":19,"featured_media":36617,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2844],"tags":[1534,2887,2889,2888],"class_list":["post-36616","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-academy-awards","tag-dneg","tag-going-public","tag-nasdaq"],"_links":{"self":[{"href":"https:\/\/www.cinema-crazed.com\/blog\/wp-json\/wp\/v2\/posts\/36616","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.cinema-crazed.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.cinema-crazed.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.cinema-crazed.com\/blog\/wp-json\/wp\/v2\/users\/19"}],"replies":[{"embeddable":true,"href":"https:\/\/www.cinema-crazed.com\/blog\/wp-json\/wp\/v2\/comments?post=36616"}],"version-history":[{"count":1,"href":"https:\/\/www.cinema-crazed.com\/blog\/wp-json\/wp\/v2\/posts\/36616\/revisions"}],"predecessor-version":[{"id":36618,"href":"https:\/\/www.cinema-crazed.com\/blog\/wp-json\/wp\/v2\/posts\/36616\/revisions\/36618"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.cinema-crazed.com\/blog\/wp-json\/wp\/v2\/media\/36617"}],"wp:attachment":[{"href":"https:\/\/www.cinema-crazed.com\/blog\/wp-json\/wp\/v2\/media?parent=36616"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.cinema-crazed.com\/blog\/wp-json\/wp\/v2\/categories?post=36616"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.cinema-crazed.com\/blog\/wp-json\/wp\/v2\/tags?post=36616"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}