The Information reports that BuzzFeed is in discussions to raise about $200million in convertible bonds to supplement cash it will raise by merging with a special purpose acquisition (SPAC) company: “The bonds will help BuzzFeed fund the acquisition of digital lifestyle publisher Complex Networks, which is being negotiated at an equity value of around $300million”.
BuzzFeed’s own discussions with the “890 Fifth Avenue Partners” SPAC are expected to conclude within a few weeks but the negotiations with Complex are still underway and a deal is said to be far from certain.
