SPAC Revival? Fenix360 Announces $610 Million NASDAQ Listing Plan
Fenix360, a multi-genre social media platform focused on helping independent artists monetize their content, has announced plans for a NASDAQ listing through a SPAC merger valued at $610 million.
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The platform's core offering is a tool enabling artists to create content-rich apps in approximately 20 minutes, providing direct fan engagement without costly intermediaries or algorithmic filters. This approach aims to "economically invigorate" the creative landscape by offering artists greater control over their content and revenue streams.
The deal, unanimously approved by both companies' boards, involves a merger with DUET. Dharmendra Magasvaran, Co-CEO of DUET, emphasizes the platform's potential to leverage digital advertising and commerce ecosystems for revenue generation.
Allan Kelpfisz, Fenix360 CEO, states that the NASDAQ listing will accelerate their global expansion plans, focusing on activating artists and fans across various markets while enhancing artist income and fan engagement.
Lance Ford, Founder & President at Fenix360, envisions creating "a generation of enthusiastic app builders" through the platform's simplified approach to digital presence management.
The transaction remains subject to DUET stockholder approval and regulatory clearances.
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