331.72MMarket Cap48.70P/E (TTM)
11.280High11.155Low86.06KVolume11.280Open11.210Pre Close963.09KTurnover0.29%Turnover Ratio93.33P/E (Static)29.62MShares11.41052wk High0.95P/B331.72MFloat Cap8.37652wk Low0.45Dividend TTM29.62MShs Float15.005Historical High4.04%Div YieldTTM1.12%Amplitude3.739Historical Low11.191Avg Price1Lot Size
Neuberger Berman Intermediate Muni Fund Stock Forum
Getty Images has agreed to merge with a blank-check firm backed by CC Capital and Neuberger Berman, returning a company bearing one of the most storied names in business to the public market.
The deal values the Seattle-based licensing provider of stock and news photos at $4.8 billion including debt, according to a statement. The agreement with special purpose acquisition company CC Neuberger Principal Holdings II involves a total equity investment of $1.2 billion. That includes funds raised by the SPAC and a $150 million private investment in public equity, or PIPE.
Getty is valued in the transaction at 15.2 times an estimated $315 million in adjusted earnings before interest, taxes, depreciation and amortization for 2022, the companies said. The SPAC is led by former Blackstone Group Inc. senior managing director Chinh E. Chu.
The 26-year-old company initially favored a traditional initial public offering before picking CC Neuberger, which will invest $600 million in the transaction, Getty Chief Executive Officer Craig Peters said in an interview.
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