BuzzFeed's first steps at the Nasdaq are taking shape.
The proposed merger of the American online news site with the Special Purpose Acquisition Company (SPAC) 890 5th Avenue Partners will be put to a shareholder vote on December 2, according to a document from the SEC, the US stock market policeman.
Subject to shareholder approval, BuzzFeed would then debut on the New York Stock Exchange on December 6, with a valuation of $ 1.5 billion.
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Founded in 2006 by Jonah Peretti in New York City, BuzzFeed has established itself over the years as a pioneer in free online entertainment and information.
For its Wall Street debut, BuzzFeed succumbed to the latest trending practices in the financial markets, merging with SPAC 890 5th Avenue (named after Marvel's fictional Avengers mansion).
A PSPC is a publicly traded financial vehicle whose purpose is to raise funds to complete the acquisition of another company.
At the beginning of the year, 890 5th Avenue,
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