Flying Eagle Acquisition Corp.
Merger
Overview
- Date:
- 9/10/2020
- Company Name:
- Flying Eagle Acquisition Corp.
- Stock Symbol:
- FEAC
- Company Name - Buyer:
- Skillz, Inc.
- Status:
- Investigating
- Merger Announcement Date:
- 9/2/2020
NEW YORK, September 10, 2020 – Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, has launched an investigation into whether the board members of Flying Eagle Acquisition Corp. (NYSE: FEAC) breached their fiduciary duties or violated the federal securities laws in connection with the company’s merger with Skillz, Inc.
On September 2, 2020, Flying Eagle announced that it had signed an agreement to enter into a reverse merger that will result in Skillz becoming a publicly listed company. The deal has an implied equity value of approximately $3.5 billion. The deal is scheduled to close in the fourth quarter of 2020.
Bragar Eagel & Squire is concerned that Flying Eagle’s board of directors oversaw an unfair process and ultimately agreed to an inadequate merger agreement. Accordingly, the firm is investigating all relevant aspects of the deal and is committed to securing the best result possible for Flying Eagle’s stockholders.